Finding the right property for your Alaska commercial real estate needs is a major step in itself, but once you’ve done so, you will then move on to negotiating the lease. A commercial office lease—whether you’re looking for a medical office, retail space, condo office space or business park—will be inundated with key terms and legal information that will outline everything from rental rates and expenses to liens, laws and limitations.
This legal document can be complex to navigate, especially if you haven’t done so before, which is where we at Northern Edge Real Estate come in! We are on hand to walk you through the many separate agreements that can come along with a commercial lease, eliminating your risk of oversight in the process. We’ve included a few of the terms you will want to consider in your Alaska commercial real estate lease below:
When discussing the build-out of the premises, it is essential to include deadlines for the work that will be required, as well as a detailed list of work yet to be completed.
Information on any liens will need to be provided to lenders.
Indemnities and releases
Necessary for any claims made by third parties and releases for claims made by other parties.
Including, but not limited to, rental rates, operating expenses, improvements, and build-out allowances.
Time allotted for restoration in the event of casualty.
Compliance with laws
Details a tenant’s obligations to the property in accordance with current laws.
Outlines exceptions for tenants and sale of the business.
Discuss expenses covered, if any, or if comparable space and location is to be provided pending relocation.
Much like everything in the commercial real estate market, lease negotiations and requirements are changing all the time, in some cases, even growing in complexity. Do not hesitate to reach out to Northern Edge Real Estate with any questions or concerns you have about your commercial lease or finding the right property for your needs this year.
We look forward to hearing from you!