The commercial tenant needs to be mindful of: (a) tenant improvement allowance/free rent period; (b) what is included in a “triple net lease”; (c) exclusive parking or business restrictions on competing businesses in the same center; (d) options to renew or extend the lease, or right of first refusal to purchase/option to purchase; and, (e) circumstances wherein the rent may be reduced or the lease terminated if a “major” tenant leaves the center. Commercial leases are unique, and the tenant needs to make sure the attorney addresses the specific requirement of each Lease.
Mitch
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