Commercial Lease Assignments and Subleases: Negotiation Strategies in a Troubled Market
Best Practices for Landlords, Tenants, Subtenants and Assignees to Avoid Legal Pitfalls
Recording of a 90-minute CLE webinar/teleconference with Q&A
Conducted on Thursday, March 25, 2010
Recorded event now available
This CLE webinar will provide best practices for counsel to landlords, tenants, subtenants and assignees to negotiate and craft subleases and assignments in the current market. The panel will review the benefits and risks of assignments and subleases of commercial leases and the legal distinctions of each option.
Description
Commercial tenants continue to vacate leased space in record numbers. Some tenants make good faith efforts to transfer their leases to other businesses via assignment or sublease. Business owners view this trend as an opportunity to find better space with shorter terms and lower rents.
Landlords, tenants, subtenants and assignees must analyze the advantages and disadvantages of each option in deciding whether to sublease or assign a lease. There are implications for each party under tax and bankruptcy codes, contract law, landlord-tenant law, and financial reporting requirements.
Subleases, more complicated to negotiate than assignments, involve a number of potential legal pitfalls for the parties. Relying on boilerplate language when entering a sublease is a dangerous mistake with costly consequences for all parties.
Listen as our panel of real estate attorneys examines the potential legal pitfalls of negotiating commercial subleases and assignments and offers strategies for landlords, tenants, subtenants and assignees when negotiating assignments and subleases in a still depressed real estate market.
Outline
- Current market trends
- Supply vs. demand
- Lease terms and renewals
- Tenant bankruptcy
- Distinctions between assignment and sublease
- Legal differences
- Drafting differences
- Pros and cons of each option
- Key considerations/best practices when negotiating assignments and subleases
- Landlord perspective
- Tenant perspective
- Subtenant/assignee perspective
Benefits
The panel will review these and other key questions:
- What are the most significant legal differences between a commercial sublease and assignment?
- What are the primary concerns for tenants considering subleasing their current space?
- What lease terms should subtenants be most concerned about when negotiating a sublease?
- How can a landlord respond when a tenant breaches a prohibition on assignment or subleasing?
Faculty
Dorothea W. Dickerman,
Partner
McGuireWoods, McLean, Va.
She has more than 25 years of experience in commercial real estate law and real estate finance. She has extensive leasing experience representing landlords and tenants in commercial leasing, negotiating retail, restaurant, hospitality, office and industrial leases in rising and falling markets.
Ruth A. Schoenmeyer,
Of Counsel
Jenner & Block, Chicago
She has extensive experience representing landlords and tenants in leasing transactions, including leases relating to office, industrial and retail properties. She has also drafted and negotiated numerous ground, build-to-suit and airport leases. She provides corporate real estate services to various companies and facilitates the purchase, sale and development of properties of various sizes.
Elizabeth K. Cooper, Esq.,
Managing Director - Brokerage
Jones Lang LaSalle, Washington, D.C.
She co-chairs the company’s Law Firm Group and leads the Strategic Transaction Service Group. She has completed over five million square feet of law firm leases. Prior to joining Jones Lang LaSalle, she practiced law for nearly 10 years. She is a member of the Board of Editors of Commercial Leasing Law & Strategy and actively writes and speaks on lease/purchase issues to various legal groups.
Ordering
Online CLE - Audio Recording
Includes audio streaming of full program plus handouts (available 24 hours after live seminar).
CLE:
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(*Indicates that Strafford must report attendance.)
Online CLE Audio $149.00
Available 24 hours after the live event
Recorded Event
Includes full event recording plus handouts (available after live seminar).
CLE: Pre-approved for self-study credit in: AK, AZ, CA, CT, FL, HI, MO, MT, NY, TX, VT, WA, WV. Upon request, self-study credit is also available in: CO, GA, ID, KY, ME, ND, NE, NH, NM, NV, OR, UT, WI, WY. If you are applying for self-study credit in one of these states, contact Strafford CLE at 1-800-926-7926 ext. 35 or CLE@straffordpub.com.
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Available three business days after the live event
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plus $9.45 S&H
Available ten business days after the live event
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Available ten business days after the live event
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CLE Credit
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Customer Reviews
The presentation was not too long, but included a great deal of information. The speakers kept to their times and provided an opportunity for questions at the end.
Amy E. McShane
Phillips Lytle LLP
The program covered a fair amount of material in a short time period.
Dawn Sharff
Bradley Arant Boult Cummings LLP
Very good current, practical and applicable discussion and information provided.
Matthew Moore
Clawson & Staubes, LLC
I appreciated that there was a great deal of current case law on the subject and the speakers were concise and informative.
Thomas G. Mancuso
Haskell Slaughter
The seminar was given in a very user friendly presentation format.
Danielle Burns
Duane Morris LLP
Real Estate Law Advisory Board
Partner
Alston & Bird
Partner
Stroock & Stroock & Lavan
Partner
Robinson & Cole
Of Counsel
Jenner & Block
Partner
Bryan Cave
Of Counsel
K&L Gates
Counsel
Kilpatrick Townsend & Stockton
Partner
Jones Day
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