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Parking: Special Issues in Commercial Leases

September 22, 2020 @ 12:00 pm - 1:00 pm

The right of tenants – and their employees and customers – to park can be one of the most important elements of office and retail leases. Physical space is often sparce and expensive, making parking spots even more dear. Tenants want absolute rights to parking and to ensure attendant services – e.g., snow removal, maintenance, etc. – while landlords want maximum flexibility, including the right to reclaim spots. This program will provide you with a practical guide to spotting parking issues in commercial leases, and negotiating effective rights for your clients.

Handout Materials will be emailed to you prior to the seminar
$60.00
1.0 MCLE Credit Hour

Schedule:

• Demised spaces v. rights to park
• Types of rights to park – general rights v. exclusive rights
• Issues for lots v. parking garages
• Duties to patrol employee use of parking spots
• Economic issues for landlords and tenants, including CAM
• Parking as zoning issue – ratio of office/retail space to parking spots
• Reclamation of parking spots by landlord for later development

Speaker:

Anthony Licata, Taft Stettinius & Hollister LLP – Chicago