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 readily available

This CLE webinar will provide a thorough take a look at build-to-suit (BTS) leases and deal with the dangers and advantages for landlords/developers and occupants. The panel will discuss considerations and terms that are distinct to BTS leases as compared to basic business leases of which counsel must understand to best safeguard their customers' interests throughout the negotiation and preparing process. The panel will also offer best practices for preparing.

Description

A BTS lease is an agreement in between a landlord/developer and tenant to construct a business building that meets particular renter requirements. Although BTS leases include comparable parts as basic commercial leases, there are distinct threats and advantages for the parties to a BTS lease of which counsel must understand to best safeguard their customers' interests during the settlement and preparing procedure.

For tenants, a BTS lease offers particular financial advantages and versatility in addition to getting a residential or commercial property created to match the tenant's specs. However, offered that the regard to a BTS lease might run for 10-20 years, tenants presume the risks of a long-term lease and the concurrent commitments.

For landlords and/or developers, a BTS lease secures a long-term renter; nevertheless, they obtain more threat during the advancement process, perhaps incurring expenses for a customized develop, and risk being able to lease the custom residential or commercial property to others at the end of the lease term or if the occupant defaults.

Listen as our professional panel supplies an extensive look at BTS leases and addresses the dangers and benefits for landlords/developers and tenants. The panel will go over factors to consider and terms that are distinct to BTS rents as compared to basic commercial leases and supply best practices for preparing and reducing intrinsic risks.

Outline

1. Overview of the BTS procedure 1. Benefits and drawbacks
2. Due diligence process
3. Lease types 1. Single, double, and triple net
2. Reverse BTS
3. Sale-leaseback
4. Developer contract
5. Others

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

Benefits

The panel will examine these and other important issues:

- Under what scenarios should counsel and their clients think about a BTS lease?
- What are the threats and advantages of a BTS lease for landlords/developers? For renters?
- What kinds of leases are used for a BTS task?
- What terms and factors to consider are distinct to BTS leases as compared to standard commercial leases?
- What are best practices for mitigating risks for each celebration?

Faculty

Ms. Stenman counsels commercial residential or commercial property owners and designers in sales, acquisitions and leasing deals. In her ...|Find out more
Ms. Stenman counsels commercial residential or commercial property owners and designers in sales, acquisitions and renting deals. In her substantial experience with industrial leasing, Ms. Stenman mainly helps property owners of office, industrial and retail assets in negotiating and drafting lease documents, including construct to match leases, and dealing with landlord/tenant matters. She is nimble and well-versed in the many concerns that impact industrial leasing deals and can expect challenges to set her clients up for success. Ms. Stenman's practice is nationwide and focuses predominately on big commercial projects such as storage facilities, warehouse and manufacturing facilities.

Ms. Zana's business property clients are situated throughout the U.S. with a focus on New York's ...|Find out more
Ms. Zana's business genuine estate clients are located throughout the U.S. with a concentrate on New york city's tri-state location, and include private designers, public companies, institutional owners, banks, and lessees of millions of square feet of real estate across the country in the luxury property, mixed-use, retail, industrial office, information centers and colocation centers, hotel and hospitality, health care and higher education markets. Her particular experience and areas of focus include: representing public and private business that utilize millions of square feet of realty, in negotiating build-to-suit and credit-tenant workplace leases, development agreements and state tax incentive arrangements; obtaining, offering, funding and leasing data centers and colocation centers; negotiating ground leases; negotiating retail leases on behalf of designers and the end retail users; scheduling and negotiating financial obligation and equity funding; and working out business- and property-level acquisitions and sales.

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David A. Barksdale
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Norton Rose Fulbright

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Partner Of Counsel
Dinsmore & Shohl

James P. Bobotek
Partner
Pillsbury Winthrop Shaw Pittman

Ronald B. Grais
Counsel
Raines Feldman Littrell

Clark T. Thiel
Partner
Pillsbury Winthrop Shaw Pittman

It was a great program with very skilled speakers.

Craig McMahon
Kimball Tirey & St. John

The topic was timely and appropriate.

Jayna Lamar
Maynard Cooper & Gale

I appreciated that the program resolved genuine concerns that develop on a weekly basis in my practice.

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Butler Snow Firm

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