Leases for office space have their own logic, economics, and traps. Next to customary issues of the allocation and payment of operating expenses, there are issues of building services, including access to high-speed data and telecommunication networks. Many tenants are also motivated by energy efficiency and the environmental sustainability of their space. If the space is occupied by medical or dental practice, the landlord needs to be concerned about waste disposal and other environmental issues. Throughout an office lease there are traps for the unwary. This program will provide you a detailed guide to reviewing and drafting office leases, including building services, operating expenses, and expanding or contracting space.
• Economics of office leases – and protecting landlord margins
• Building services – telecom and data bandwidth issues
• Operating expenses – taxes, insurance, fees and penalties
• Special issues for medical and dental practices
• Make-ups and give-backs – strategies for tenants and practical responses of landlords
• Assignment and subletting – consent of landlord, other issues
• Liability issues – insurance and indemnity, waiver of subrogation, waiver of right to sue
|Handout 1 (2.1 MB)||36 Pages||Available after Purchase|
|Evaluation Form (32.5 KB)||1 Pages||Available after Purchase|
Anthony Licata is a partner in the Chicago office of Taft Stettinius & Hollister LLP, where he formerly chaired the firm’s real estate practice. He has an extensive practice focusing on major commercial real estate transactions, including finance, development, leasing, and land use. He formerly served as an adjunct professor at the Kellogg Graduate School of Management at Northwestern University and at the Illinois Institute of Technology.