What We Do
GCSG Law Firm specializes in the reviewing, drafting and negotiating of contracts
At GCSG Law Firm, our goal is to ensure that our client’s interests are properly protected. This requires attention to detail when reviewing our client’s contracts. We ensure all terms are thoroughly defined and we discuss all potential issues with our clients during our review.
Our Firm can help you navigate the following types of Agreements, including but not limited to:
- Residential Leases
- Commercial Leases
- Telecommunications Leases
- Easement Agreements
- License Agreements
- Estoppels
- Subordination and Non-Disturbance Agreements
- Non-Disclosure Agreements
- Assignment and Assumption Agreements
- Termination Agreements
- Declaration of Restrictions and Grant of Easements
- Real Estate Broker Listing Agreements
- Settlement Agreements
- Consulting Agreements
- Independent Contractor Agreements
- Amendments
- Landlord/Tenant Agreements
What is a Commercial Lease Agreement?
A Commercial Lease Agreement is a contract used when a Landlord rents property for business purposes.
A Commercial Lease Agreement can also be referred to as a/an:
- Commercial Property Lease
- Business Lease
- Industrial Lease
- Commercial Real Estate Lease
- Office Space Lease
Situations where the use of a commercial lease would arise include but are not limited to the following:
- If you own an office building and you want to rent work space to other businesses and individuals.
- If you own a warehouse and you would like to lease to another business
- If you own other non-residential property that can be used for commercial spaces like self-storage facilities, medical clinics, and hotels
- If you are a tenant leasing commercial space from a landlord
What is included in a Commercial Lease Agreement?
Types of Commercial Leases:
- Net Lease- Base rent plus some property taxes
- Percentage Lease- Base rent plus a percentage of monthly sales
- Double Net Lease (NN) -Base rent, property taxes and insurance
- Triple Net Lease (NNN) – Base rent plus property taxes, insurance and common area maintenance
- Gross Lease – tenant is only responsible for paying rent
Below are a few key items to pay close attention to when you are entering into a commercial lease:
- Permitted Use: This will be a description of the type of business the tenant is allowed to operate in the property being leased.
- Exclusive/Restrictive Use: This is the right of the tenant to be a one-of-a-kind business on the property.
- Rent Increase: This refers to the amount by which the rent will increase and the date upon which such increase will occur.
- HVAC: Responsibility for maintenance and repair of the AC should be determined upfront since the cost to repair could depend on the age and working condition of existing air condition units.
- Assignment/Sublease rights: In the event a tenant wants to sell their existing business, the buyer would be called the assignee and there are steps to take prior to transferring ownership of the business to the buyer. Some landlords require consent and there could also be an assignment fee payable to the landlord.
- Common Area Maintenance Costs: What are these costs and how are they calculated in your Lease.