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 supply an extensive look at build-to-suit (BTS) leases and attend to the threats and advantages for landlords/developers and occupants. The panel will go over considerations and terms that are distinct to BTS leases as compared to basic industrial leases of which counsel should know to finest protect their customers' interests throughout the negotiation and preparing procedure. The panel will also offer finest practices for preparing.

Description

A BTS lease is an arrangement in between a landlord/developer and occupant to build an industrial structure that fulfills specific occupant requirements. Although BTS leases include similar parts as basic business leases, there are distinct risks and benefits for the celebrations to a BTS lease of which counsel should know to best protect their customers' interests during the settlement and preparing process.

For renters, a BTS lease offers specific financial benefits and versatility in addition to getting a residential or commercial property created to match the occupant's requirements. However, considered that the regard to a BTS lease may run for 10-20 years, renters assume the dangers of a long-lasting lease and the concurrent responsibilities.

For proprietors and/or designers, a protects a long-term renter; nevertheless, they acquire more threat during the advancement procedure, perhaps incurring expenses for a custom-made build, and threat having the ability to lease the custom-made residential or commercial property to others at the end of the lease term or if the tenant defaults.

Listen as our specialist panel supplies a thorough appearance at BTS leases and addresses the dangers and advantages for landlords/developers and occupants. The panel will discuss considerations and terms that are special to BTS leases as compared to basic business leases and offer best practices for drafting and mitigating intrinsic risks.

Outline

1. Overview of the BTS process 1. Pros and cons 2. Due diligence process 3. Lease types 1. Single, double, and triple net 2. Reverse BTS 3. Sale-leaseback 4. Developer arrangement 5. Others

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

Benefits

The panel will review these and other important concerns:

- Under what scenarios should counsel and their customers think about a BTS lease?

• What are the risks and benefits of a BTS lease for landlords/developers? For occupants?
• What kinds of leases are used for a BTS task?
• What terms and considerations are distinct to BTS rents as compared to basic business leases?
• What are best practices for mitigating risks for each party?
  
  Faculty
  
  Ms. Stenman counsels industrial residential or commercial property owners and designers in sales, acquisitions and leasing deals. In her ...|Read More Ms. Stenman counsels commercial residential or commercial property owners and developers in sales, acquisitions and leasing deals. In her substantial experience with industrial leasing, Ms. Stenman mainly helps property owners of workplace, industrial and retail possessions in negotiating and preparing lease documents, including construct to suit leases, and dealing with landlord/tenant matters. She is nimble and well-versed in the lots of problems that impact business leasing transactions and can anticipate difficulties to set her customers up for success. Ms. Stenman's practice is across the country and concentrates predominately on large commercial tasks such as warehouses, circulation centers and manufacturing centers.
  
  Ms. Zana's industrial property clients are situated throughout the U.S. with a focus on New York's ...|Find out more Ms. Zana's commercial genuine estate clients are located throughout the U.S. with a focus on New York's tri-state location, and include personal developers, public companies, institutional owners, banks, and lessees of millions of square feet of realty across the nation in the high-end property, mixed-use, retail, commercial office, data centers and colocation facilities, hotel and hospitality, health care and college markets. Her particular experience and areas of focus consist of: representing public and personal companies that use millions of square feet of genuine estate, in working out build-to-suit and credit-tenant workplace leases, development agreements and state tax incentive contracts; acquiring, offering, funding and renting information centers and colocation facilities; negotiating ground leases; negotiating retail leases on behalf of designers and completion retail users; organizing for and negotiating debt and equity financing; and negotiating business- and property-level acquisitions and sales.
  
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  David A. Barksdale Partner Norton Rose Fulbright
  
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