Negotiating the Build-to-Suit Lease
On Wednesday, April 26, Ken Kramer participated in a live Lorman webinar to discuss build-to-suit leases and the issues that arise when either the building is not yet be constructed, the landlord will take on substantial work to renovate significant portions of the property and the building to accommodate the particular tenant's use, or the landlord will be solely responsible for all interior improvements and the risks as to the cost of the same.
Build-to-suit tenants are often seeking to take space to meet a key business need or to consolidate functions, and as a result, the timing of completion is critical. In order to manage expectations, the parties need to clearly understand the factors which could affect the time line for construction, completion and occupancy. This topic addressed some of the key elements necessary to assure that the unique issues of build-to-suit leases are adequately addressed in the lease, and the negotiations leading to the lease.