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Commercial Lease Restructuring

Today's economic climate calls for leaner and more efficient companies. An area of expense that may have made sense in an expanding business environment, but now needs to be reexamined, is the expensive fixed cost, long term commercial lease for office, back office, warehouse or retail space. Restructuring of existing commercial leases can thus be a sound way to reduce fixed costs without sacrificing productivity. By way of example, lease restructuring may include rent reduction or deferral, modification of existing escalations and other monetary obligations, and sub-leasing or a surrender of unneeded space. We have seen indications that, if approached in the right way, building owners concerned about losing good tenants are more willing in these times to work with their tenants to fashion creative transactions of mutual benefit. Each situation is different. We have a structured way to work through these problems that can help to develop the right package for a given situation.

Our commercial lease restructuring group includes Lowell Willinger, a real estate attorney with experience in a wide range of commercial real estate lease transactions, who is Of Counsel to the firm.

Although Lowell Willinger represents property owners on conveyancing, mortgaging and the like, on commercial lease restructuring we focus on the needs of commercial tenants - thereby minimizing the potential for conflicts of interest. Additionally, we may, on a case by case basis, consult with experienced real estate professionals who also focus on the needs of tenants in commercial lease restructuring.

The value proposition from the tenants' standpoint is simple. When we do the negotiating, the fee the tenant pays to our firm for commercial lease restructuring will be based on a percentage of the tenant's savings or other benefit received by the tenant. Of course, any transaction is subject to tenant approval.

Additionally, if a restructuring deal has already been negotiated and the tenant simply wants us to implement the lease amendments, we would do that type of work at normal hourly rates.

If you want to know more about saving through our commercial lease restructuring program, please contact the law firm or e-mail Norman Bernstein directly at nwbernstein@nwbllc.com.

Firm News & Articles

For Norm Bernstein's views on the CERCLA 107/113 issue as expressed in the "Voluntary vs. Compelled Cleanup" section of the recent Bloomberg BNA article (p. 2) titled "Finding the Divide Between CERCLA Cost Recovery and Contribution Actions," click here. Reproduced with permission from Toxics Law Reporter, 30 TXLR 235 (March 5, 2015). Copyright 2015 by The Bureau of National Affairs, Inc. (800-372-1033) < http://www.bna.com>

On January 27, 2014, the Supreme Court of the United States denied a petition for certiorari that sought to overturn our defeat of DOJ's arguments in the Seventh Circuit in Bernstein, et al. v. Bankert, et al. For the front page article in Bloomberg's Toxics Law Reporter, click here. For the Seventh Circuit's decision, click here.

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N.W. Bernstein & Associates, LLC
800 Westchester Avenue
Suite N319
Rye Brook, NY 10573-1361

Telephone: 914.358.3500
Fax: 914.701.0707

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