Commercial Leases and Risk The lease agreement is one of the most commonly utilized contracts in commercial transactions. Even in today’s mobile and technology-driven commercial landscape, a huge number of businesses and...more
We previously wrote that commercial lease renewal provisions are void and unenforceable if they rely upon “market rent” with no mechanism to determine the market rent, but what happens when the renewal provision is completely...more
When selling your business in Canada, you will face a long list of due diligence requests as the purchaser reviews all aspects of your business. If there is a lease, one key aspect of due diligence review will be the lease...more
In this quarter’s edition, we cover cases concerning continuing nuisance, business lease renewals, “subject to contract” and misrepresentation. We also tell you about the new Renters (Reform) Bill recently introduced to...more
On December 5, the Massachusetts Appeals Court issued an important decision impacting commercial landlords’ ability to accelerate rent as liquidated damages after a Lessee’s default in Cummings Properties, LLC vs. Darryl C....more
On March 21, 2022, the Court of Special Appeals of Maryland (the “Court”) decided in Peterbilt of Baltimore LLC v. Capitol Gateway Properties, LLC that provisions of an option to purchase (the “Option”) pursuant to the...more
In our last installment of the Lease Dispute Series, we talked about tenant payment of real estate taxes. Today, we’ll talk about the covenant of quiet enjoyment. North Carolina law implies a number of covenants in...more
Unlike economic challenges of the past, COVID-19 has immediately and vastly altered the commercial real estate industry on a global scale, and in ways the industry has not previously encountered with the purely economic...more
COVID-19 Pandemic Likely to Increase Bankruptcy Filings- As the COVID-19 pandemic forces authorities across the country to swiftly react to public health developments and setbacks, the process of reopening businesses to...more
Leasing commercial space differs from renting a home. Whether you need office, retail, or industrial buildings for your business, commercial properties have their own unique issues, which must be addressed early on. A proper...more
It’s not as easy to try out commercial rental space as it is musical instruments. It’s expensive for the landlord to get the space ready for a tenant, and it’s expensive and disruptive to the tenant’s business to move into a...more
Last May, the Virginia Supreme Court issued its’ opinion in Game Place, LLC v. Fredericksburg 35, LLC, which in many ways upset the proverbial apple cart within Virginia’s real estate industry. In the Game Place case, the...more
Virginia’s General Assembly recently approved House Bill 2287 amending the Statute of Conveyances to remove the requirement that the conveyance of an estate in land for a term of more than five years must be in the form of a...more
Goulston & Storrs partners Nancy Davids, Matt Epstein, Karen O’Malley and David Rabinowitz recently sat down with Forbes to discuss how changes in consumer behavior continue to drive evolution in the retail real estate...more
Tenants (as well as landlords) seeking an early exit from a Virginia lease of more than 5 years have been given an assist by the Virginia Supreme Court in a recent case causing consternation among commercial real property...more
A recent ruling by the Supreme Court of Virginia may invalidate hundreds of leases because they are not under "seal" and therefore do not meet Virginia's "Deed of Lease" requirement. Landlords and tenants should review their...more
Amid the uncertainty plaguing brick and mortar retail establishments, some commercial landlords may find themselves with an extra tool in their arsenals to temporarily stave off tenant vacancies: continuous operations...more
Under California law, a provision of a contract found to impose a penalty is unenforceable as a forfeiture and contrary to public policy. The characteristic feature of a penalty is the lack of proportional relation between...more