Originally presented on: November 14, 2019
Leases for office space have their own logic, economics, and traps. Next to customary issues of the allocation and payment of operating expenses, there are issues of building services, including access to high-speed data and telecommunication networks. Many tenants are also motivated by energy efficiency and the environmental sustainability of their space. If the space is occupied by medical or dental practice, the landlord needs to be concerned about waste disposal and other environmental issues. Throughout an office lease there are traps for the unwary. This program will provide you a detailed guide to reviewing and drafting office leases, including building services, operating expenses, and expanding or contracting space.
- Economics of office leases – and protecting landlord margins
- Building services – telecom and data bandwidth issues
- Operating expenses – taxes, insurance, fees and penalties
- Special issues for medical and dental practices
- Make-ups and give-backs – strategies for tenants and practical responses of landlords
- Assignment and subletting – consent of landlord, other issues
- Liability issues – insurance and indemnity, waiver of subrogation, waiver of right to sue
Speaker: Anthony Licata, Taft Stettinius & Hollister LLP, Chicago, IL
NOTE: This program was originally produced as a telephone seminar and is available on demand in streaming audio. This material qualifies for self-study credit only. Pursuant to Regulation 15.04.5, a lawyer may receive up to six hours of self-study credit in a reporting year. Self-study programs do not qualify for ethics or elimination of bias credit.