The lease is the most important part of the transaction. Define the terms of the deal. Long after the negotiations are forgotten lease document survives. Some of the important elements of the lease are: the delivery date, the insurance clause, the alterations clause, the sublease clause, landlord’s access, the casualty clause, the holdover clause, the default clause, nondisturbance clause, the security clause, force majeure, the HVAC clause, options to renew or expanding, the tax clause.
This part of the process can be very difficult or go very smoothly depending on the quality of the lawyers. Many companies use their business lawyers who may be a good lawyer but know nothing about real estate leases. Some lawyers do residential real estate and claim they do commercial leases as well. I once had a client whose lawyer my client believed was a very experienced commercial real estate lawyer. However he was experienced in representing landlords. All the points I want to negotiate he wouldn’t because he wasn’t used to representing tenants. A good lawyer should focus on important ports of lease and not the unimportant points. The lawyer should not try to renegotiate the business terms of the deal.