Pros vs. Cons, Selecting the Right Lease Type, Negotiating Unique Terms

Recording of a 90-minute premium CLE video webinar with Q&A

Conducted on Thursday, February 22, 2024

Recorded occasion now available

This CLE webinar will provide an extensive take a look at build-to-suit (BTS) leases and address the dangers and advantages for landlords/developers and renters. The panel will go over considerations and terms that are distinct to BTS rents as compared to standard industrial leases of which counsel ought to know to finest safeguard their customers' interests during the negotiation and preparing procedure. The panel will also offer finest practices for drafting.

Description

A BTS lease is an arrangement in between a landlord/developer and renter to build an industrial building that fulfills particular occupant requirements. Although BTS leases consist of similar components as basic industrial leases, there are distinct risks and advantages for the celebrations to a BTS lease of which counsel ought to know to finest secure their customers' interests throughout the settlement and preparing procedure.

For renters, a BTS lease provides specific financial benefits and versatility in addition to acquiring a residential or commercial property designed to fit the tenant's specs. However, considered that the regard to a BTS lease may run for 10-20 years, occupants assume the threats of a long-lasting lease and the concurrent commitments.

For landlords and/or designers, a BTS lease protects a long-lasting occupant; however, they acquire more danger throughout the development procedure, possibly sustaining costs for a custom develop, and threat being able to rent the custom residential or commercial property to others at the end of the lease term or if the tenant defaults.

Listen as our expert panel supplies an in-depth look at BTS leases and addresses the threats and benefits for landlords/developers and renters. The panel will go over factors to consider and terms that are distinct to BTS leases as compared to standard commercial leases and provide best practices for preparing and reducing inherent threats.

Outline

1. Overview of the BTS procedure 1. Pros and cons 2. Due diligence process 3. Lease types 1. Single, double, and triple internet 2. Reverse BTS 3. Sale-leaseback 4. Developer agreement 5. Others

1. Parties to the lease 2. Premises description 3. Lease term 4. Renewal choices 5. Commencement date vs. completion date 6. Rent amount 7. Taxes 8. Use/restrictions 9. Plans/approvals/change orders 10. Maintenance and repair work 11. Purchase alternatives 12. Warranties 13. Termination 14. Work letter/scope of work 15. Other considerations

Benefits

The panel will evaluate these and other important problems:

- Under what scenarios should counsel and their customers think about a BTS lease?

• What are the risks and benefits of a BTS lease for landlords/developers? For tenants?
• What types of leases are used for a BTS job?
• What terms and considerations are unique to BTS leases as compared to standard industrial leases?
• What are best practices for mitigating dangers for each celebration?
  
  Faculty
  
  Ms. Stenman counsels commercial residential or commercial property owners and designers in sales, acquisitions and renting transactions. In her ...|Learn more Ms. Stenman counsels industrial residential or commercial property owners and designers in sales, acquisitions and renting transactions. In her substantial experience with commercial leasing, Ms. Stenman mainly assists landlords of workplace, industrial and retail assets in working out and preparing lease documents, including construct to fit leases, and managing landlord/tenant matters. She is active and fluent in the numerous concerns that affect business leasing deals and can anticipate obstacles to set her customers up for success. Ms. Stenman's practice is across the country and concentrates predominately on big industrial tasks such as warehouses, warehouse and producing centers.
  
  Ms. Zana's business realty customers are located throughout the U.S. with a focus on New york city's ...|Learn more Ms. Zana's industrial realty clients are located throughout the U.S. with a concentrate on New york city's tri-state area, and consist of private developers, public business, institutional owners, banks, and lessees of millions of square feet of genuine estate across the country in the high-end residential, mixed-use, retail, industrial office, information centers and colocation facilities, hotel and hospitality, healthcare and college industries. Her specific experience and areas of focus include: representing public and private business that use countless square feet of realty, in negotiating build-to-suit and credit-tenant office leases, advancement arrangements and state tax reward agreements; obtaining, selling, funding and renting information centers and colocation facilities; negotiating ground leases; working out retail leases on behalf of developers and completion retail users; scheduling and working out financial obligation and equity funding; and working out corporate- and property-level acquisitions and sales.
  
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