All tagged commercial real estate
Over the last two years, lawyers’ standard lease language was tested by natural disasters, the pandemic and drastic changes in the way people work. To adapt to changing times, attorneys should consider incorporating a variety of practical provisions into their corporate leases regarding term, base and additional rent, casualty insurance, premises rights, and force majeure.
As it has in virtually every aspect of our lives, Covid-19 has drastically accelerated trends in the field of real estate that were emerging slowly before the pandemic, and has ushered in some brand-new changes as well. Our clients at Steeg Law are grappling with these trends and changes, and our documentation of their deals tries to help them achieve the flexibility that these times demand.
Two recent articles highlight some of the key trends and changes brought about by Covid-19. The first article, from CNBC, points to a new development directly related to the pandemic – shorter lease terms on new leases, and the consequences and risks posed to both landlord and tenant by this change. The second article, from The New York Times, describes the acceleration of a trend that was already in existence, namely the shortened life span of commercial real estate buildings and the need for multiple adaptive reuses over the life of the building. The pandemic has caused building owners to anticipate even shorter life-spans for their buildings.
I recently had an article, “Hurricane Preparedness for Commercial Real Estate Agreements,” published in New Orleans CityBusiness. As I cover in this piece, hurricane season begins on June 1. With reminders like Hurricanes Harvey and Katrina fresh in our minds, many of us will begin to review steps for hurricane preparedness in our homes and offices. Have you also considered that you need to do the same for your real estate agreements? Now is the time.
I just returned from the 2018 Advanced Commercial Leasing Institute at Georgetown Law School. This two-day intensive seminar is an invitation-only program for 140 attorneys from the U.S. and Canada that covers the latest issues and trends in the industry and the latest lease provisions and techniques to deal with them.
I recently attended the invitation-only Advanced Commercial Leasing Institute (ACLI) at Georgetown Law School. The annual ACLI program brings together 150 private-firm lawyers, company in-house counsel, and non-lawyer leasing professionals for two participatory days of presentations and discussions that explore important, timely issues in commercial leasing today.
