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A young attorney once asked me a question about a lease she was reviewing where the building was condominiumized. Before I responded, I had one question for her: “Did you review the condominium documents?” She looked at me with a blank look. That was not a good answer. I explained that the condominium “declaration” and the by-laws, floor plans and rules and regulations attached to it (all referred to, many times, in the lease as the “condominium documents”) should be a starting point for any lease review where a condominium “unit” or “units” comprise all, or part of the premises leased by a tenant. To obtain a copy of the condominium documents an attorney can request them from the landlord who owns the unit or, as is the case in New York City, the documents may be found online if you know the block and lot number of the building. Reviewing the condominium documents may provide information about the actual unit you are leasing that you cannot glean from a review of only the lease itself. That means that, no matter how carefully you reviewed the lease, if you don’t read the condominium documents you could be missing critical information relating to the unit and the building that is available only by reviewing the condominium documents.
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A Primer on Landlord Exculpatory Provisions In Leases
By Marisa L. Byram and Garrett L. Kinkelaar
Keystone Specialty Services Co. v. Ebaugh
Practitioners should take note that depending on the jurisdiction, a well-drafted exculpatory clause may afford additional protections to a commercial landlord, even from its own negligent acts.
Commercial Real Estate Market Sees Shift Toward ‘Densification’ As Firms Look Long Term
By Jessie Yount
Real estate executives say the construction of the office of the future is well underway within the legal industry, despite a dip in leasing activity at the beginning of the year. However, there is a shift toward “densification,” as firms take advantage of favorable market conditions and make longer-term commitments.
Supreme Court Addresses Municipal Sign Regulations, Again
By Steven M. Silverberg
In 2015, the U.S. Supreme Court applied strict scrutiny to a sign regulation as it related to directional signs placed by a local congregation that held services at different locations each week. The Court took another look at the issue of strict scrutiny relating to “off-premises” signs in the case of City of Austin, Texas v. Reagan National Advertising , in which the majority concluded that strict scrutiny should not apply to determining whether the off-premises sign regulations at issue violated the First Amendment.
Commercial Real Estate Market Optimistic
By Paul Bergeron
The commercial real estate industry is having little trouble shrugging off today’s challenging economic situations and its optimism is brewing with recent pandemic restrictions being lifted, according to a state of the market survey from DLA Piper.
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