The Lease Manual

This manual analyzes each paragraph from the point of view of all stakeholders in a commercial real estate lease transaction, describing and analyzing typical lease paragraphs for office, retail, and industrial/warehouse leases.

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Do you ever wonder if there's something you're missing in negotiating a lease, why one party insists on not altering a particular paragraph, or if you need to offer an acceptable compromise that would meet the needs of all parties in a lease? The Lease Manual: A Practical Guide to Negotiating Office, Retail, and Industrial Leases answers these questions and many more.


This practical guide helps you effectively handle all stages of a commercial real estate lease transaction, from negotiation to preparation and execution of office, retail, and industrial leases. Because understanding the needs and concerns of all interested parties is the only way to facilitate and complete lease negotiations, The Lease Manual examines and explores the concerns, needs, and desires of landlords, tenants, lenders, and brokers by analyzing typical lease paragraphs from each point of view. The first three parts of the book provide description and analysis of typical lease paragraphs for:





Office leases

Retail leases

Industrial/warehouse leases


A numerical "Risk Rating" is given to each paragraph of the typical lease, along with a brief summary and description of the lease paragraph and its scope. This is followed by an analysis of the lease paragraph and a critical review of the landlord's, tenant's, and lender's perspectives, along with possible compromises and alternatives from each party's point of view. The Lease Manual also discusses some of the most negotiated yet least understood lease terms, such as "Net Rent," "Gross Rent," "Base Year Rent," "Expense Stop Rent," "Percentage Rent," "Full Service Rent," "Real Estate Taxes," "Subordination," "Nondisturbance," and "Attornment." A collection of commonly used forms that are ancillary to a lease transaction are included in the book's final section, including a Letter of Intent, Notice of Lease, Lease Commencement Date Agreement, Subordination, Nondisturbance and Attornment Agreement, and Tenant Estoppel Letter.


This updated second edition of The Lease Manual: A Practical Guide to Negotiating Office, Retail, and Industrial/Warehouse Leases, now with lead author April F. Condon, offers a fourth perspective - that of the Broker, as well as many other additions, including:



More alternatives, compromises, and analyses

New lease negotiation strategies

Updates related to Covid-19 issues

Energy-efficient “green” building best practices

Right of First Refusal and Right of First Offer alternatives to lease additional space in an office building

Lease Alternatives to meet Telecommunication needs, including equipment installations that may be located exterior to the leased premises
And more!