News & Analysis as of

Commercial Leases Renewal Options

Lowndes

Silence is Golden in Lease Renewal Provisions

Lowndes on

We previously wrote that commercial lease renewal provisions are void and unenforceable if they rely upon “market rent” with no mechanism to determine the market rent, but what happens when the renewal provision is completely...more

Womble Bond Dickinson

The Race to Renew: North Carolina Addresses Recording Requirements for Binding Lease Renewal Options

Womble Bond Dickinson on

A recent North Carolina Court of Appeals decisions underscores the importance of properly recording lease terms and renewal options. North Carolina’s Connor Act (codified as N.C. Gen. Stat. § 47-18) provides that North...more

Smith Anderson

Winning the Race to Record: Protecting Rights in Real Estate

Smith Anderson on

The North Carolina Court of Appeals this week addressed an important issue involving leases, options to renew, and the North Carolina recordation statutes known as the “Connor Act.” The decision affects anyone who buys or...more

Lowndes

Your Lease Renewal Option May be Ineffective

Lowndes on

In its recent decision in Jahangiri, et al. v. 1830 North Bayshore, LLC, the Third District Court of Appeal asserted that a lease extension option based on “market rate” is insufficient to create a binding and effective...more

Jaburg Wilk

Negotiating a Lease Renewal Option

Jaburg Wilk on

Most tenants and their real estate agents who negotiate commercial leases accept that many of the terms in the landlord’s “form” lease favor the landlord. One term, however, that favors only the tenant, and which every...more

PilieroMazza PLLC

Negotiating the Renewal Option of Your Office Lease

PilieroMazza PLLC on

In negotiating an office lease, business owners should be sure to negotiate a potentially-valuable, tenant-friendly option that landlords often grant: one or more renewal options of the lease. Under a renewal option of a...more

Jaburg Wilk

Options and the Right of First Refusal in Commercial Leases

Jaburg Wilk on

In commercial leases, it is common for the tenant to be given the “option” to continue to lease their premises for a new term commencing immediately upon the expiration of the existing term. Although the option only favors...more

Ballard Spahr LLP

Planning for Tenant's Changing Needs: Options To Renew, Expand, Cancel, or Reduce

Ballard Spahr LLP on

As a tenant's business changes, its needs and space requirements also change. If possible, a commercial tenant should anticipate the possibility of changing needs by negotiating certain beneficial options and rights into the...more

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