Negotiating and Drafting Commercial Leases

By John Busey Wood and Alan M. Di Sciullo
Publisher: ALM

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"The first treatise that a leasing pro will refer to for explanation of new and difficult issues as well as a refresher on issues that have not recently been encountered." —James S. Saunders, Esq., Senior Managing Director, Newmark Knight Frank

"[An] extraordinary treatise.... The real value of this book is in its practical evaluation of lease provisions, the motivations of the parties, and the reasonable (and unreasonable) positions that parties to a lease often take." —Prof. Daniel Bogart, Chapman University School of Law, and Prof. Celeste Hammond, John Marshall School of Law, in Commercial Leasing: A Transactional Primer


Negotiating and Drafting Office Leases, now called Negotiating and Drafting Commercial Leases, offers a practical road map through the entire leasing negotiation process. It reviews the clauses of a typical complex modern lease in detail, with explanation and commentary, examining the legal, economic and financial accounting ramifications.

Compared to recent years, there are very few commercial property owners, developers, design professionals, lenders, tenants and landlords that are NOT utilizing sustainable designs and materials.

The NEW Release 46 for Negotiating and Drafting Commercial Leases includes a complete revision of the green leasing materials to reflect this industry shift. Included is everything you need to know about the numerous motivations for building green; the current green leasing certification requirements; and many sample provisions for drafting green leases, including sustainability clauses, operating expenses, and alterations.

This Release also provides coverage of a number of trends impacting office leasing, including:

•  Virtual reality vs. augmented reality, and how these technologies are used in leasing, as well as their impact on real estate deals
•  Pop up leasing and how these short-term leases should be structured for the landlord and the tenant
•  Implications for office leases of the legalization of marijuana, including tenant compliance with state law and federal guidelines; potential for nuisance to other tenants; and additional landlord requirements in such leases
•  Expectation that there will continue to be greater implementation of cryptocurrencies through blockchain to drive efficiencies through digitization and create more accurate records of ownership that update in real time

Negotiating and Drafting Commercial Leases also covers:

•  Negotiating strategies and styles
•  Pitfalls created by other agreements entered into by the parties to a lease
•  Repairs and maintenance
•  Assignments and subleases
•  Environmental compliance and due diligence
•  Electricity and utilities costs and issues
•  The "Porter's Wage" escalation provision
•  Tenant monitoring of landlord's escalation calculations
•  Guarantors and security deposits
•  Proving the existence of a lease when the original document is lost
•  Quiet enjoyment
•  Expansion space
•  Bankruptcy;
•  Work letters
•  Restrictive causes
•   Renewals and options
•  Financing development through participation leases
•  Synthetic leases
•  Brokerage
•  Lease audits...and more!

This invaluable primer comes with 150 forms, including: landlord/tenant checklists of typical and atypical lease provisions; a sample tenant's proposal letter; work letter materials; a sample asbestos removal clause; good guy clauses; and other samples that will help beginners and experts, alike, involved in commercial real estate transactions. For your convenience, these forms are now available through our interactive, online platform in place of the CD-ROM. If you have any questions, please contact our customer service team at 1-877-807-8076 or ljpsales@lawjournalpress.com.

Table of Contents


Chapter 1: Office Lease Fundamentals

Chapter 2: Who Is the Landlord and Who Is the Tenant?

Chapter 3: The Leased Premises

Chapter 4: The Lease Terms

Chapter 4A: Security Deposits and Other Forms of Security

Chapter 5: Preparing the Premises for Occupancy

Chapter 6: Landlord Access

Chapter 7: Area

Chapter 8: Use

Chapter 9: Appurtenances

Chapter 10: Repairs and Maintenance

Chapter 11: Condemnation and Destruction

Chapter 12: Alterations

Chapter 13: Compliance With Laws

Chapter 13A: Green Provisions in Leases

Chapter 14: Conditions of Limitation and Defaults

Chapter 15: Reentry by Landlord

Chapter 16: Services

Chapter 16A: Rooftop Rights

Chapter 17: Electricity

Chapter 18: Custom of Dealing, Waivers and Modifications

Chapter 19: Rent

Chapter 20: Superior Interests

Chapter 21: Transferability of Leasehold Interests

Chapter 22: The Covenant of Quiet Enjoyment

Chapter 23: Restrictive Clauses

Chapter 24: Renewals and Options

Chapter 25: Casualty and Insurance

Chapter 26: Work Letters

Chapter 27: Financing Real Estate Development Through
Participation Leases

Chapter 27A: Synthetic Lease Transactions and “Off-Balance Sheet” Financing

Chapter 28: Bankruptcy

Chapter 28A: Can You Draft a Fair Lease?

Chapter 28B: Tenant’s Checklist of Silent Lease Issues (Second Edition)

Chapter 28C: Landlord’s Checklist of Silent Lease Issues (Second Edition)

Chapter 29: Negotiating the Lease

Chapter 29A: Lease Brokerage

Chapter 29B: The Appraiser’s View of the Lease

Chapter 30: Subleasing

Chapter 31: Responding to a Tenant’s Assignment or Sublease Request

Chapter 32: Preparing for an Effective Subleasing Program While Negotiating the Lease

Chapter 33: Leases vs. Licenses

Chapter 34: The Killer Lease: What It Is and Why It Exists