For both tenants and landlords, commercial ground leases are often a viable alternative to purchasing or selling real property. A ground lease is typically a long-term lease of unimproved land (or previously developed property) that requires the tenant to construct improvements.
While commercial ground leases may offer unique benefits for both parties, they are not without their risks and potential pitfalls. For New York and New Jersey businesses contemplating a ground lease, this post takes a look at several important advantages and disadvantages for both prospective tenants and landlords...
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Commercial Law & Contracts Updates, Commercial Real Estate Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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