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Leasing real estate is something that almost all
businesses encounter during their life-cycle. It is important to select
attorneys who have experience in this area of law. Here are some issues:
- The Term. Remember that you will be
making a significant investment in your location. The term should be
long enough to achieve an appropriate return on investment. Optional
terms are a great way to give you the ability to lengthen the term.
- Buildout.
Depending upon the type of lease, the landlord may perform a "buildout."
When a landlord does this, they need to "recover," or amortize, that investment over the
term of the lease. Thus, for a longer term lease, the landlord will
often give larger accommodations for buildout.
- CAM. Landlords often have many tenants
in a building whereby some of the space is allocated to any specific tenant,
i.e. their respective suites, and other area being common area, e.g., the
hallway stairs, bathrooms and parking lots. "CAM" is "common area
maintenance" and is passed through to tenants on a pro rata basis.
Also, taxes and insurances are generally passed-through to tenants.
- Incidental issues. There are a
plethora of issues with which to deal in a lease in order to manage the risk
of a long-term engagement.
Our office represents landlords and tenants and
so we see both sides. Our goal is "to get the deal done" in a positive way
that minimizes risks for our clients. Because of our experience in this
area, we understand the positions and arguments, and we efficiently get to the
result.
Contact us for more information:
Z e g a r e l l i
Home Page (click here)
Zegarelli Law Group
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Upper St. Clair Administrative and Postal Office:
2585 Washington Road, Suite 134
• Summerfield Commons Office Park
Pittsburgh, PA
15241-2565 USA
Pittsburgh Office:
301 Grant Street, Suite 4300 • One Oxford Centre
Pittsburgh, PA 15219-1407 USA
Voice: 412.833.0600
Fax: 412.833.0601
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