Office and retail leases are among the most common forms of commercial real estate transactions, and both require a broad and often nuanced understanding of lease law. Although there is substantial overlap between office and retail leases, there are also many material differences. These differences can be subtle, and the concepts are unique and significant enough to warrant careful review and consideration by savvy counsel. Some key issues include:

  • Permitted use provisions
  • Annual rent increases
  • Assignment and subletting terms
  • Default and remedy provisions and tenant and landlord obligations concerning operating expenses
  • Capping liabilities
  • Maintenance and repairs
  • Indemnity provisions

Careful and precise drafting of these provisions are critical to avoiding or resolving potential disputes and protecting clients’ interests.

In this practical webinar, you will learn about commercial tenants for leasing issues unique to office and retail leases and best practices to protect tenant interests.

Upon course completion, you will be able to:

  • Examine and compare office and retail leasing transactions
  • Identify their key similarities and essential differences
  • Address critical issues unique to these types of lease agreements

Course Outline:

I. Overview
II. Letters of intent
III. Credit and security under leases
IV. Tenant space planning considerations
V. Build-out of leased premises, determination of commencement date, and work letters
VI. Use of premises, exclusive use and radius provisions, continuous operation and kick out clauses, hours of operation
VII. Responsibility for real estate taxes and operating expenses/common area maintenance; Operation Expense exclusions and caps
VIII. Tenant self-help rights
IX. Indemnity Provisions
X. Assignment and sublet provisions; SNDAs, permitted transfers, and estoppel certificates
XI. Real Estate Tax Considerations [CMK Note: I actually read an interesting case recently about real estate tax assessments relating retail property on gov’t property like airports]
XII. Alterations
XIII. Casualty and Condemnation
XIV. Final thoughts and practical considerations

You will learn the following:

  • What are the specific areas of concern when drafting retail and office leases?
  • How much should a tenant negotiate an LOI?
  • What are some common space planning tools?
  • How can counsel best balance specificity and flexibility in classifying the tenant’s business when negotiating exclusive rights?
  • What are typical operating expense exclusions?
  • What are the potential gross sales carve-outs when rent is based on the tenant’s revenue?
  • What basic indemnity issues should tenants be aware of?
  • How should tenant and landlord obligations be defined concerning operating expenses, maintenance, and repairs?
  • What exit strategies should tenants consider upfront in a lease negotiation?
Faculty Member
Julian Freeman
Cox, Castle & Nicholson

Julian Freeman is a real estate transactions attorney at Cox, Castle & Nicholson.  His practice includes all aspects of commercial real estate transactions, including acquisitions and dispositions, development, joint ventures, management of real estate assets, and a particular emphasis on office, industrial and retail leasing.  Since 2007, Mr. Freeman has drafted and negotiated leases and lease amendments for over 15 million square feet of office, industrial and retail space located throughout the nation (and primarily in the western U.S. metropolitan areas), including the largest new office leases in Orange County, California in 2014 (191,000 feet) and 2018 (154,418 feet), each as identified by the Orange County Business Journal.

Faculty Member
Corin Korenaga
Cox, Castle & Nicholson

Corin Korenaga is a transactional real estate attorney at Cox, Castle & Nicholson whose practice focuses on leasing, acquisitions, dispositions, and real estate M&A deals.  He serves as the lead attorney for leasing, tenant disputes, and other day-to-day operational matters at several major developments owned by national and regional landlords.  Over the years he has routinely handled in excess of 1.5 million square feet of leasing-related transactions annually.  Homebuilders, multi-family developers, and other commercial real estate developers also trust Mr. Korenaga to guide them through the various aspects of acquisition, disposition, and development of real estate projects as well as other merger, recapitalization, and asset deals.

CLE Credits (Law)

Credit Value Type Format
NALA - - Credit not available
NFPA - - Credit not available
AL 1.5 General
On-Demand/Recording
AK 1.5 General
On-Demand/Recording
AR Not Available General
On-Demand/Recording
AZ 1.5 General
On-Demand/Recording
CA 1.5 General
On-Demand/Recording
CO 1.8 General
On-Demand/Recording
CT 1.5 General
On-Demand/Recording
DE 1.5 General
On-Demand/Recording
FL 2 General
On-Demand/Recording
GA 1.5 General
On-Demand/Recording
HI 1.5 General
On-Demand/Recording
IA 1.5 General
On-Demand/Recording
ID 1.5 General
On-Demand/Recording
IL 1.5 General
On-Demand/Recording
IN 1.5 General
On-Demand/Recording
KS Not Available General
On-Demand/Recording
KY 1.5 General
On-Demand/Recording
LA 1.5 General
On-Demand/Recording
ME 1.5 General
On-Demand/Recording
MN 1.5 General
On-Demand/Recording
MO 1.8 General
On-Demand/Recording
MS Not Available General
On-Demand/Recording
MT 1.5 General
On-Demand/Recording
NC 1.5 General
On-Demand/Recording
ND 1.5 General
On-Demand/Recording
NE 1.5 General
On-Demand/Recording
NH 1.5 General
On-Demand/Recording
NJ 1.8 General
On-Demand/Recording
NM 1.5 General
On-Demand/Recording
NV 1.5 General
On-Demand/Recording
NY 1.5 General
On-Demand/Recording
OH 1.5 General
On-Demand/Recording
OK 2 General
On-Demand/Recording
OR 1.5 General
On-Demand/Recording
PA 1.5 General
On-Demand/Recording
RI 1.5 General
On-Demand/Recording
SC Not Available General
On-Demand/Recording
TN 1.5 General
On-Demand/Recording
TX 1.5 General
On-Demand/Recording
UT 1.5 General
On-Demand/Recording
VA Not Available General
On-Demand/Recording
VT 1.5 General
On-Demand/Recording
WA 1.5 Law and Legal Procedure
On-Demand/Recording
WI 1.5 General
On-Demand/Recording
WV 1.8 General
On-Demand/Recording
WY 1.5 General
On-Demand/Recording

In some CLE states, the course will be submitted to the bar after you register. If for any reason the course is not approved, we will fully refund your registration fee. If a state is listed on this course, then we are confident the course fits that state's standards and already is or will be approved for credit.

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