Signed With National Franchisor As Tenant
We recently completed the successful negotiation and drafting of a commercial lease extension on behalf of our client, the Landlord and owner of commercial property in Hayward, California (East Bay). The Tenant is a large, national automotive repair franchisor.
Hayward Landlord Tenant
The Tenant had allowed its option to renew to expire, allowing us to negotiate and draft lease modification language to provide for an increase in rents to market with annual CPI increases and 3% minimum annual increases. Market conditions also allowed us to eliminate a right of first refusal that the Tenant previous enjoyed, thereby increasing the marketability of the property for a potential sale by the Landlord.
Commercial Lease Contracts
We are seeing a significant increase in activity in the commercial real estate leasing market while representing landlords, tenants, brokers and property managers. Our clients are advising us the rents are increasing and inventory is low, making it a landlord’s market as the San Francisco Bay Area economy continues to improve.