Case Study - Leasing Challenge:
A prospective client, who had been represented by another law firm on the transaction, had been negotiating a lease for seven months without closure for 90,000 square feet to serve as its corporate headquarters and base for its essential research and development operations. With less than thirty days remaining on its existing lease, the client approached Brennan, Dain, Le Ray, Wiest, Torpy & Garner, P.C. to close the transaction before lease expiration and year end.
Outcome:
At the request of the client, our attorneys performed a full review and negotiation of the lease, including extensive expansion, extension and construction rights. In addition, we undertook review and negotiation of a non-disturbance agreement with the landlord's lender and placement of a letter of credit. Our attorneys were able to complete the entire project and have all documents fully executed within the desired time frame and below the estimated cost. Our client never incurred holdover rent and was able to commence the construction process immediately after lease execution.