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Leasing Commercial Property
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Leasing commercial property, covers a multitude of property types and is often a very spcialized area of commercial brokerage. The lease process is much more than driving down the road and finding a building for rent. The lease process is about finding the correct location, correct price and correct terms to maxamize the business. Usually a Commercial Broker finds the Tenant or Landlord and negotitates the lease. Once the "Letter of Intent" is agreed on, the Attorney can and should draft the actual lease for the protection of both parties. One major reason to use an Attorney, is a lease divides the "Bundle of Rights" in the property between the Landlord and Tenant and that can be one big mess or a good partnership. Call me for Commercial Leasing!!
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Requirements of a Valid Lease
A lease is just like a purchase and sale contract, and to be valid and enforceable must contain certain clauses.
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Lease Terminology
The terminology in a lease is very important to understand, because it will make a difference if you understand the impact of say "CAM Charges" and your rights to an accounting of charges.
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Lease Terms and Their Applications
It is important to understand the difference between Rentable Square Feet and Useable Square Feet. Also, its very important to understand "Load Factor" and its application.
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Operating Expenses
Understanding who pays "what" is very important because it impacts your bottom line. Expenses are usually passed thru to the Tenant, but "How Much" and are expenses negotiable?
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New Lease
Just leased 3,175 Feet. Tenant will remodel the space to suit their needs.
Initial Term is 7 years, Base Rate is $10.96
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