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“Remember – Engage an Attorney to Review Your Lease” article by David King
This is the time of year when retailers and other business owners look carefully at their expansion plans for the upcoming year, begin scouting potential new locations, and perhaps even begin substantive lease negotiations with landlords concerning expansion, contraction, relocation and additional premises. Surprisingly, many will not engage the services of a qualified attorney to assist with their substantive lease review, thus potentially exposing themselves to a host of possible financial and legal headaches down the road. In addition to the basic financial terms of a lease (base rent, percentage rent, CAM, taxes, radius restrictions, tenant improvement allowances, etc.), there are dozens of other provisions contained in a lease that many small to mid-size retailers (and other tenants) do not think to even consider, let alone negotiate. Read the full article.
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