This course provides an in-depth business analysis of a commercial lease. Various elements of office, industrial, and retail leases will be defined and debated from the perspectives of landlords, tenants, and lenders. Strategic business points are highlighted so that all parties can better interpret a commercial lease and focus on pertinent, red-flag negotiating issues. Access to a financial calculator is required.
Topics: Revenue and expense structures; identifying key issues in a lease agreement/clause; building terminology and characteristics; conflicting landlord/tenant objectives; designing a letter of intent; interpreting the lease document; and strategies for lease negotiations.
Typically offered in January and, as a weekend intensive course, in April.
Students will have successfully completed RE107 or have permission of the instructor.