Ground Lease / Built to Suit Attorney Recommendations

8 Replies

Hello - can anyone here recommend me an good attorney at reasonable rates for a Single Tenant Retail lease? I am currently in the process of negotiating (as a landlord/developer) either a ground lease or buit to suit type of lease with a large corporate gas/convenience operator and am in need of someone that has experience with either types of leases as well as dealing with gas/convenience store corporates. Thank you!

Is it in Seattle or somewhere else??

What do you define as reasonable rates?

The great attorneys are about 300 plus an hour. This is not the residential space. Commercial is a different ballgame of knowledge and level of competency. All legal and other costs along with construction,labor, and land costs make up overall projects totals. The little items here and there really make a difference. Generally you get LOI first then go to lease negotiations.

@Joel Owens thanks for the reply. Yes I'm based in Seattle but what I really need is a lawyer that's familiar with absolute net leases and specifically leases for this corporate. There are several for sale listings on Loopnet etc. with this client as tenant and it wouldn't be hard to get a copy of one of their leases. 

What I want to know is what the process, procedure is like when getting into the LOI/lease negotiation etc. Does the landlord typically draft the lease or does the tenant draft one up first?

@Ronald Rohde thanks. Honestly what I'm looking for is someone with direct experience dealing with this specific corporate. There are tons of leases around so I think there should be more or less a template/standard lease form that a well versed attorney may be familiar with. Is this wishful thinking? 

Call a developer in that area that does commercial or a NNN broker. They usually have a guy or gal they use frequently.

I have contacts nationally but do not do much in Seattle. I focus on experience more than rate. For instance my attorney in GA has been doing retail and commercial for over 30 years and has done a lot of NNN leases. Sometimes attorneys will have a colleague they know in another state that is as good as they are to refer to.

Originally posted by @Gene Han :

@Ronald Rohde thanks. Honestly what I'm looking for is someone with direct experience dealing with this specific corporate. There are tons of leases around so I think there should be more or less a template/standard lease form that a well versed attorney may be familiar with. Is this wishful thinking? 

 You can't get the Tenant attorney to represent you, that would be a conflict of interest and one unlikely to be waived. Lease is easy, sure tons floating around on the internet. Your attorney will know what to ask you when choosing the right clauses, modifications for your specific needs.

@Joel Owens @Ronald Rohde

Thanks for the input! Do you guys have any build to suit experience? Other than the LOI, what other major documents must be negotiated prior to signing the lease agreement? I assume there has to be some kind of construction/design agreement that must be negotiated...

Join the Largest Real Estate Investing Community

Basic membership is free, forever.