Real estate can be a company’s most important asset — and its greatest liability. To take full advantage of emerging opportunities and avoid costly commercial pitfalls, businesses must be particularly careful in their approach to leasing. At Troutman Sanders, our significant, active and sophisticated commercial real estate leasing practice can help lessors and lessees manage their local, regional and national real estate portfolios more effectively.
Many of our clients develop, own and require space across the country. As a result, our leasing practice is national in scope. We represent landlords (e.g., developers, office and retail development owners, and pension funds and other long-term investors) as well as tenants. We understand that completing work correctly, promptly and in a cost-effective manner is of paramount importance to our clients. To that end, we tailor our assignment of senior lawyers and newer, well-trained associates to each client engagement, properly matching the skills and experience of the lawyer to the transaction at hand.
Our high volume of work allows us to be very efficient. We have negotiated and drafted leases for virtually any scenario or issue that might arise in a lease negotiation. In any given year, we typically will be involved in three to five of the largest office-leasing
deals, on the leasing side, in several of the markets in which we practice.
Our direct engagement in a variety of markets gives us an excellent perspective on typical and emerging market terms and provisions, changes in laws or client business goals, and how market shifts affect the drafting of leases. We also have an appreciation of how capital and debt markets fluctuate in the way they value (and sometimes punish) leases, and can help clients maximize long-term returns and financing opportunities.
Our lawyers represent retail tenants and end-users of retail space
, as well as retail developers and other long-term investors and owners of retail sites. We engage in a variety of markets for big-box tenants, out-parcel users and in-line store tenants. We also have an appreciation of how leases, uses and occupancy of one user can affect the remainder of a project. As such, we know the provisions to include to best protect the value and utility of a retail site, and which provisions to properly craft to avoid long-term negative impacts on users and tenant/user rights.
We engage in leasing at all stages of development, with a special focus in the following areas:
- Buildings under or in the initial stages of construction
- Buildings under condominium regimes
- Anchor-level (100,000 square feet or more) leases
- Sale/lease-backs where the seller retains a significant lease presence in the asset being sold