A Fresh Perspective
Spring is (finally) in the air and it's a great time to evaluate what your company stands to gain by taking advantage of the fresh perspective new leasing counsel can provide.
Here are three ways that working with a new attorney can save you time and money and reduce the risk of not getting your commercial leases over the finish line.
Is Your Form Lease a Dinosaur?
Do you know if your form lease is one of those dinosaurs that slows down every lease negotiation? One of our clients used its time-worn form for years until we made them aware that not only was it ridiculously one-sided, it was also outdated and internally inconsistent. Cleaning it up required overcoming strenuous internal resistance, but resulted in quicker, easier lease negotiations.
Are Negotiations Getting Bogged Down?
How long has it been since you've reviewed your standard negotiating positions? If your company's stance on issues such as casualty restoration and insurance coverage trigger long, drawn-out deliberations, that's a wake-up call for a thorough re-evaluation. When we took over the legal leasing work for a suburban office building in New Jersey, we worked closely with the leasing team to update and standardize the landlord's bottom line on non-deal-specific issues. Within 36 months, the property reached full occupancy.
How Capable Is Your Team?
When is the last time you took a hard look at the real capabilities of your leasing team? Do you know if your leasing reps are skilled deal-makers? Are your construction, property management, and accounting departments responsive and accurate when providing support to the leasing team? In one recent case, a client brought us in to negotiate a retail anchor lease, replacing its long-standing retail attorney. During the negotiation, we helped this client recognize that its broker was jeopardizing the deal before there was a fatal blow. With the help of a new broker, the lease was signed and the tenant is about to open for business.