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In commercial leases, "operating expenses" (often referred to as OPEX, CAM or Common Area Maintenance) generally cover the costs associated with the daily operation, maintenance, and repair of the property. In addition to...more
A Right of First Refusal (ROFR) Clause is an optional clause that may be included in certain commercial leases which grants a tenant the first right to buy the property should the owner decide to sell....more
A significant inducement in many new leases and lease renewals is landlord funding and/or constructing improvements that customize the leased premises to the needs of the tenant’s business. The allocation of cost for these...more
On September 30, 2024, Governor Newsom signed into law Senate Bill 1103, an unprecedented legislative measure affecting non-residential landlords’ transactions with a broadly defined class of “qualified commercial tenants.”...more
A landowner desiring to enter into a license agreement for the use of real property must take care to ensure that the license agreement does not contain terms that inadvertently waive the landowner’s right to recover the...more
In the busy world of commercial real estate, buyers and sellers may be unable to complete all contractual obligations before closing. In those instances, parties often identify certain “post-closing” matters in the contract....more
This advisory discusses the recent case law developments on the express duty of "good faith" in English law and what they may mean within the context of commercial real estate....more
For those of us that practice in the world of commercial real estate financing transactions, the fact pattern is a tale as old as time: the Bank is making a term loan secured by real estate largely based on leases on the...more
Briefcase: Quarterly Real Estate Update - Cases and News including: ..The Royal Parks Limited and the Secretary of State for Digital, Culture, Media and Sport v Bluebird Boats Limited ..Monsolar IQ Ltd v Woden Park...more
With our blog post of December 14, 2020, we had already pointed out the corresponding legislative initiative. In record time, two new provisions on commercial leases (excluding residential leases) were subsequently adopted on...more
Who gets what when a lease of real property is over? This is a question that can be problematic for both landlords and tenants. If the tenant installed additional improvements or made alterations to the premises, will...more