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 available

This CLE webinar will supply an in-depth appearance at build-to-suit (BTS) leases and address the threats and advantages for landlords/developers and renters. The panel will go over factors to consider and terms that are unique to BTS rents as compared to basic industrial leases of which counsel must know to finest secure their customers' interests during the negotiation and drafting process. The panel will also supply best practices for drafting.

Description

A BTS lease is an agreement in between a landlord/developer and tenant to develop a business building that fulfills specific tenant requirements. Although BTS leases contain comparable parts as basic industrial leases, there are unique threats and benefits for the parties to a BTS lease of which counsel need to understand to best safeguard their clients' interests throughout the settlement and drafting procedure.

For occupants, a BTS lease uses certain financial advantages and flexibility in addition to getting a residential or commercial property created to match the occupant's specs. However, given that the regard to a BTS lease might run for 10-20 years, tenants assume the dangers of a long-term lease and the concurrent commitments.

For property owners and/or designers, a BTS lease secures a long-term tenant; nevertheless, they get more danger throughout the development procedure, potentially incurring costs for a customized construct, and risk being able to rent the custom-made residential or commercial property to others at the end of the lease term or if the occupant defaults.

Listen as our expert panel supplies a thorough look at BTS leases and addresses the risks and advantages for landlords/developers and tenants. The panel will discuss factors to consider and terms that are unique to BTS leases as compared to standard commercial leases and provide best practices for drafting and reducing inherent dangers.

Outline

1. Overview of the BTS procedure 1. Benefits and drawbacks
2. Due diligence procedure
3. Lease types 1. Single, double, and triple net
2. Reverse BTS
3. Sale-leaseback
4. Developer agreement
5. Others

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

Benefits

The panel will evaluate these and other important issues:

- Under what circumstances should counsel and their customers think about a BTS lease?
- What are the threats and benefits of a BTS lease for landlords/developers? For renters?
- What types of leases are used for a BTS task?
- What terms and considerations are special to BTS rents as compared to standard business leases?
- What are best practices for mitigating dangers for each party?

Faculty

Ms. Stenman counsels industrial residential or commercial property owners and designers in sales, acquisitions and leasing deals. In her ...|Learn more
Ms. Stenman counsels industrial residential or commercial property owners and developers in sales, acquisitions and leasing deals. In her extensive experience with business leasing, Ms. Stenman mostly helps landlords of office, industrial and retail assets in working out and preparing lease files, including develop to suit leases, and dealing with landlord/tenant matters. She is active and skilled in the many issues that affect business leasing deals and can prepare for obstacles to set her customers up for success. Ms. Stenman's practice is across the country and focuses predominately on large industrial projects such as storage facilities, circulation centers and producing centers.

Ms. Zana's industrial realty clients are situated throughout the U.S. with a concentrate on New York's ...|Find out more
Ms. Zana's industrial property clients are located throughout the U.S. with a concentrate on New York's tri-state area, and consist of personal developers, public business, institutional owners, banks, and lessees of countless square feet of property across the country in the high-end residential, mixed-use, retail, business workplace, information centers and colocation facilities, hotel and hospitality, health care and greater education industries. Her particular experience and locations of focus consist of: representing public and personal companies that utilize millions of square feet of realty, in working out build-to-suit and credit-tenant workplace leases, advancement agreements and state tax reward arrangements; getting, selling, funding and leasing data centers and colocation facilities; negotiating ground leases; working out retail leases on behalf of designers and the end retail users; arranging for and working out debt and equity funding; and negotiating business- and property-level acquisitions and sales.

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David A. Barksdale
Partner
Norton Rose Fulbright

Brian W. Blaesser
Partner Of Counsel
Dinsmore & Shohl

James P. Bobotek
Partner
Pillsbury Winthrop Shaw Pittman

Ronald B. Grais
Counsel
Raines Feldman Littrell

Clark T. Thiel
Partner
Pillsbury Winthrop Shaw Pittman

It was a great program with really skilled speakers.

Craig McMahon
Kimball Tirey & St. John

The topic was timely and appropriate.

Jayna Lamar
Maynard Cooper & Gale

I appreciated that the program dealt with genuine issues that develop on a weekly basis in my practice.

John Galloway
Butler Snow Firm

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