Legal services. Transaction management.
IN-DEPTH MARKET KNOWLEDGE AND SOLID NEGOTIATION SKILLS LEAD TO BENEFICIAL LEASE TERMS
The challenge in this file was dealing with a very difficult private landlord with limited knowledge of commercial real estate common practices and industry standards. The landlord was under the impression that their property was worth considerably more than market and was also examining the possibility of redeveloping the property into a hotel, therefore throwing uncertainty on our client’s future occupancy.
Landmark needed to approach this situation carefully and with patience when dealing with the landlord and their legal counsel. Care was taken to ensure that they understand the leasing process. Several meetings were held at Landmark’s offices in addition to numerous meetings and calls with the landlord and his legal counsel. This was an educational process as Landmark was required to tutor the landlord in principles of commercial real estate.
Landmark was able to achieve a 5-year lease extension at terms and conditions that are below market for this type of premises, therefore securing their client’s occupancy.