Description

The Lease Manual: A Practical Guide to Negotiating Office, Retail, and Industrial/Warehouse Leases 2nd Edition April Condon ISBN 9781639051243

Have you ever wondered why a lease negotiation stalls over a single paragraph, why one party refuses to modify certain language, or whether there’s a compromise that could satisfy everyone at the table? The Lease Manual: A Practical Guide to Negotiating Office, Retail, and Industrial Leases answers these questions—and many more.

This hands-on guide walks you through every stage of a commercial real estate lease transaction, from negotiation to drafting and execution of office, retail, and industrial/warehouse leases. Recognizing that successful negotiations depend on understanding all stakeholders, The Lease Manual examines typical lease provisions from the perspectives of landlords, tenants, lenders, and brokers. By analyzing common lease paragraphs through each party’s lens, the book equips readers to anticipate concerns, manage risk, and close deals more efficiently.

The first three sections provide in-depth analysis of standard lease provisions for:

• Office leases

• Retail leases

• Industrial and warehouse leases

Each lease paragraph is assigned a numerical Risk Rating, along with a clear summary of its purpose and scope. This is followed by a detailed evaluation of the provision, including landlord, tenant, and lender viewpoints, as well as practical compromises and alternative approaches. The book also demystifies some of the most frequently negotiated—and least understood—lease concepts, such as net and gross rent, base year and expense stop rent, percentage rent, full-service rent, real estate taxes, subordination, nondisturbance, and attornment.

The final section includes a valuable collection of commonly used ancillary lease documents, including a letter of intent, notice of lease, lease commencement date agreement, subordination, nondisturbance and attornment agreement, and tenant estoppel letter.

This fully updated second edition, with lead author April F. Condon, adds a critical fourth perspective—that of the broker—and introduces numerous enhancements, including:

• Expanded alternatives, compromises, and analytical insights

• New and practical lease negotiation strategies

• Updates addressing COVID-19–related leasing issues

• Guidance on energy-efficient and “green” building practices

• Right of first refusal and right of first offer options for expanding leased space

• Lease solutions for modern telecommunications needs, including exterior equipment installations

Clear, practical, and perspective-driven, The Lease Manual is an indispensable resource for navigating and negotiating commercial leases with confidence.

The Lease Manual: A Practical Guide to Negotiating Office, Retail, and Industrial/Warehouse Leases 2nd Edition April Condon ISBN 9781639051243, 978-1639051243 & 9781639051250

Authors
April Condon
Rodney J Dillman