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Provided by: Lorman Education Services Commercial Real Estate Lease Escalations |
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This seminar will be presented by Joel I. Binstok, Esq., Alan T. Kramer, Esq., and Jan Alan Lewis, Esq.
8:00 am - 8:30 am Registration
8:30 am - 12:00 pm General Overview of Commercial Lease Negotiation Process
(Break 10:00 am - 10:10 am)
- Parties' Leverage
- General Economic Conditions
- Specific Location of Premises
- Desirability of Particular Property
- Difference Between Office and Retail Leases
- Existing vs. Property to Be Constructed
- Base Year and Fiscal Year Issues
- Proportionate Share Allocations
- Escrows
- Caps or Ceilings
Operating Expenses
- Definitions
- Inclusions
- Exclusions
- Deductions
- Capital Items
- Gross-Up Concerns
- Government Mandates
- Billing Procedures
- Audit Rights and Issues From Both Perspectives
Consumer Price Index
- Specifics of Index to Be Used
- Base and Comparison Periods
- Frequency of Adjustments
12:00 pm - 1:00 pm Lunch (On Your Own)
1:00 pm - 4:30 pm Real Estate Taxes
(Break 2:30 pm - 2:40 pm)
- Taxing Process
- Special Problems for New Buildings or Additions
- Definition
- Installment Payments
- Certiorari and Refunds
- Survival and Cutoff Date Issues
Porter Wage Escalation
- Identification of Contract and Employees
- Inclusion or Exclusion of Fringe Benefits
- Square Footage Calculation
Common Area Maintenance Focusing on Shopping Centers
- Parking Area
- Advertising
- Security
Other Escalation Provisions
- Utilities
- Electricity, Water, Fuel and Steam
- Insurance Premiums
Disputes
- Operating Issues and Alternative Resolution Procedures
- Arbitration
- Litigation
- Examples of Potential Disagreements
Questions and Answers
