Norris, McLaughlin & Marcus

Posts Tagged ‘tenant-assignor’

The Need for Exit Strategies in Your Commercial Lease

In good times and in not so good times, a well drafted and negotiated commercial lease will contain various exit strategies available to the landlord and tenant. These strategies will come in handy in situations where a tenant’s business is booming causing it to grow out of its current space (good times) or where the space is too big or expensive for the tenant to continue because business has dropped off considerably (not so good times).

Exit strategies can include the following:

  • Assignment
  • Subletting
  • Contraction rights
  • Right to go dark
  • Right to expand

Below is a very brief overview of how each of the foregoing strategies operates.

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