Common Area Maintenance, Insurance, and Taxes Provisions in Commercial Leases Out of Stock
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Product Details
About the Seminar - Computer Based Audio ONLY programs (No Video) - DOES NOT QUALIFY FOR CLE BIG TICKET
Common area expenses (CAM) are part of virtually every office and retail lease. These expenses cover everything from parking lots and reception areas to common meeting spaces and restrooms. In triple net leases, landlords seek to recover these expenses from tenants. This can be a significant component of a tenant's lease expense and they negotiate with landlords over scope of CAM, caps or other limitations, and audit rights. Landlords and lenders are often reluctant to give any concessions. This program will provide you with a real-world guide to negotiating and drafting CAM provisions in commercial leases.
-Scope of common area maintenance (CAM) expenses
-Relationship to minimum maintenance standards
-Treatment of taxes and insurance
-Differentiating operating v. capital expenses in CAM recovery
-Caps on CAM, fixed CAM, gross-up considerations
-Audit and information rights for CAM
-Understanding landlord, lender, and tenant motivations and concerns
Speakers
Richard R. Goldberg is a retired partner, resident in the Philadelphia office of Ballard Spahr, LLP, where he established an extensive real estate practice, including development, financing, leasing, and acquisition. Earlier in his career, he served as vice president and associate general counsel of The Rouse Company for 23 years. He is past president of the American College of Real Estate Lawyers, past chair of the Anglo-American Real Property Institute, and past chair of the International Council of Shopping Centers Law Conference. Mr. Goldberg is currently a Fellow of the American College of Mortgage Attorneys and is a member of the American Law Institute. Mr. Goldberg received his B.A. from Pennsylvania State University and his LL.B. from the University of Maryland School of Law.
Anthony Licata is a partner in the Chicago office of Taft Stettinius & Hollister LLP, where he formerly chaired the firm's real estate practice. He has an extensive practice focusing on major commercial real estate transactions, including finance, development, leasing, and land use. He formerly served as an adjunct professor at the Kellogg Graduate School of Management at Northwestern University and at the Illinois Institute of Technology. Mr. Licata received his B.S., summa cum laude, from MacMurray College and his J.D., cum laude, from Harvard Law School.
Mandatory MCLE Credit Hours
This seminar qualifies for 1.0 MCLE Credit Hour.
Note: When submitting your compliance reports to the SC Commission on CLE and Specialization, if you completed this in 2020, please use this course code: 201846ADT.
Note: When submitting your compliance reports to the SC Commission on CLE and Specialization, if you completed this in 2021, please use this course code: 213418ADT.