Negotiating and Drafting Restaurant Leases
Provisions Addressing Tenant Improvements, Financing and Franchise Structures, Mixed Use, Clean-up Equipment, and More
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course will focus on drafting and negotiating provisions of restaurant leases. The panel will discuss how best to address particular concerns with a restaurant use, tenant improvements, franchise relationships, operational issues in mixed-use developments, and issues applicable to tenants generally.
Outline
- Restaurant tenants generally: Distinguishing features
- Tenant improvements/buildout provisions
- Allocation of responsibility between landlord and tenant
- Equipment and furnishings: lender rights upon lease or loan default
- Franchised (chain) restaurants: Rights of franchisor upon default under lease or franchise
- Insurance Provisions and Coverages
- Other provisions: Co-tenancy, go dark, termination provisions, parking, options to renew, insurance
- Subordination, non-disturbance and attornment agreements
Benefits
The panel will review these and other key issues:
- How do the operational aspects of a restaurant impact provisions in a restaurant lease?
- Given the expense of a restaurant buildout, how might financing arrangements impact the lease?
- How might a franchise affect the notice and assignment provisions of a restaurant lease?
- What are the nuisance concerns to address in a restaurant lease?
- What particular concerns exist in a mixed-use development and how might they be reflected in the lease?
Faculty
Jodi Rich
Partner
Ulmer & Berne
In Ms. Rich's practice of real estate law, she represents buyers and sellers in the acquisition, sale, and... | Read More
In Ms. Rich's practice of real estate law, she represents buyers and sellers in the acquisition, sale, and development of shopping centers. She also represents buyers and sellers in various commercial real estate acquisitions and sales, including properties with unique circumstances such as environmental contamination. Ms. Rich represents commercial landlords, tenants, and clients completing 1031 exchanges. She also assists both lenders and borrowers in negotiating loan documents. Ms. Rich has negotiated transactions involving distressed properties, including assisting clients navigate through deals involving the foreclosure of real property.
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Brian R. Smith
Partner
Arnall Golden Gregory
In addition to his general real estate practice, Mr. Smith has extensive experience in the negotiation of complex... | Read More
In addition to his general real estate practice, Mr. Smith has extensive experience in the negotiation of complex leasing transactions relating to retail, office and warehouse properties. Mr. Smith focuses his leasing practice on the representation of large national and local retail, office and warehouse developers and owners, as well as local and national tenants. He is particularly well known for his work advising both landlord and tenant clients in the negotiation of high-end restaurant deals. In working with nationally-recognized chefs, restaurateurs, and their respective landlords, Mr. Smith has established a practice that has successfully advised best-in-class restaurants from letter of intent to opening night.
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