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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

  • work Practice Area

    Real Property - Transactions

Date & Time
  • event Date

    Thursday, March 16, 2023

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$347.00
CLE
ALL

This CLE webinar will guide real estate counsel for landlords and tenants on best practices for drafting commercial lease agreements in connection with build-out considerations, trends in post-COVID negotiations, financing considerations and future maintenance and repair provisions.

Faculty

Iryna Lomaga Carey
Partner
Kurzman Eisenberg Corbin & Lever

Ms. Carey’s practice focuses on commercial real estate transactions including: commercial sales and acquisitions; joint ventures; commercial leasing and commercial finance. She has broad based experience in retail/industrial/office property leasing and acquisitions; operating company acquisitions and dispositions; negotiation of construction contracts; and financing and construction of a broad range of commercial properties. Ms. Carey has represented landlords and tenants in enclosed malls, strip centers, warehouse/industrial projects and pad sites. She has extensive experience handling due diligence in connection with significant real estate acquisitions of both real property and debt portfolios.

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Barry R. Katz
Partner
Saul Ewing LLP

Mr. Katz focuses his practice on real estate and corporate law. He represents Fortune 500 companies, national lenders, developers, syndicators, condominium associations and management companies in the Chicago area and nationwide with respect to the acquisition, sale, financing, syndication, operation and management of real estate. He has also been involved in the merger and acquisition of businesses and the financing of such transactions.

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Description

Some of the most overlooked but potentially costly lease provisions address pre-leasing improvements, build-out, the role of financing in construction and future repair and maintenance issues. Provisions regarding the build-out of a premises should: address cost/financing issues; consider recent market trends; set realistic completion dates incorporating possible delays; and review future maintenance and repair obligations to ensure that all lease provisions work together to avoid costly mistakes.

Listen as our authoritative panel of commercial real estate practitioners discusses drafting and negotiating lease provisions regarding pre-commencement improvement, build-out, financial considerations and allocation of risk related to maintenance and repair.

Outline

  1. Current market trends in office, retail and industrial leasing
  2. Pre-commencement build-out provisions
    1. Approval of plans
    2. Change orders
    3. Cooperation of parties
    4. Delivery of premises
    5. Representations and warranties
  3. Landlord construction financing considerations
    1. Tenant Allowance and Commission Reserves
    2. Net Operating Income and DSCR calculations
  4. Functional maintenance and repair provisions
    1. Allocation of responsibilities in industrial leases
    2. HVAC systems
    3. Tenant vs. landlord obligations
    4. Conditions applicable to repairs
    5. Utilities, sewer lines, and parking lots

Benefits

The panel will review these and other essential matters:

  • What are the key questions to address in pre-commencement build-out provisions, and what are the risks for the parties?
  • How do lenders and the post-COVID market influence construction?
  • What should pre-commencement repair and maintenance provisions include, and what are the risks for the parties?