With the shopping center-urban retail community out in full force this past week at the ICSC, and with Black Friday and e-Monday and such all in the frosty air, I figured ’tis the season for a column mainly aimed at those involved in retail and restaurant leasing.
Frankly, the getting-into-the-deal I leave Read More
In Part 1 of this column in September, we highlighted tenant protections against a landlord in distress, in particular use of the Subordination, Non-Disturbance and Attornment Agreement, or SNDA. Essentially, in return for subordinating the lien of the lease to the lien of the mortgage, the lender agrees not to “disturb” the tenant Read More
The scene: Midtown office of a midsize ad agency.
The dramatis personae: Company’s VP for operations, attorney and broker.
The discussions to this point: On the table is a draft term sheet for a 15,000 rsf lease at a rent which is 20 percent lower than tenant is currently paying; also Read More