408 - Commercial Leasing (2 hours)
This course focuses on the negotiation and drafting of commercial real estate leases from the initial letter of intent stage to the final lease closing. Items studied and drafting exercises include: (1) letters of intent, (2) brokerage agreements, (3) commercial leases and lease provisions at various levels of the negotiation process, (4) subordination, nondisturbance and attornment agreements, (5) estoppel certificates, and (6) lease memoranda. The course covers various forms of commercial leases, including ground leases, retail leases, subleases, and license and occupancy agreements. This course also focuses upon professionalism and ethics in the negotiation and drafting process. In addition to learning applicable law, students receive regular evaluation of substantial drafting and negotiation assignments typical of those encountered in actual practice. The negotiation and drafting skills learned in this course apply to other areas of commercial practice. Prerequisite: Property 111.