Archive for March, 2011
Turn on the TV, flip through a magazine or go online and you will blaze past channel and page of chefs chopping away. There are angry chefs, scientific ones, wanna-be angry chefs, people cooking outside, people cooking in a ship’s galley, people obsessing over trace ingredients and arcane methods by which to assemble a meal.
Show after show, and with piles of pages there is a furious competition going on for our attention. It all involves food. Food, food, food – foodie food. (more…)
By Christopher Huntley, Attorney
1. Is an oral lease valid?
An oral lease can be valid if the term is under a year. Any oral lease or sublease for a term over a year is not valid. An assignment of a lease with more than a year remaining on the term, or any oral amendment or modification of a lease with a remaining term of more than one year, is also invalid. There are also prohibitions on landlords maintaining oral leases for residential premises in buildings with twelve or more units regardless of the length of the term.
2. Is a landlord liable for injuries suffered by third parties that occur in the tenant’s premises? (more…)
We asked and he answered…
Watch the video below for Dan Spiller’s take on what part of the economy concerns him most and key take-aways for the commercial real estate community.
Spiller is a senior vice president in U.S. Bancorp’s corporate treasury department. Thank you to NAIOP members Ben Krsnak of Hempel Properties and Whitney Peyton of CB Richard Ellis for sharing their impressions with us.
New this year! There will not be a lottery to determine who gets a foursome. On Wednesday, May 18, all NAIOP members will receive an email notification to sign up for the tournament. Foursomes will be assigned on a first-come, first-reserved basis, and held by credit card which will be charged within 24 hours. It is important that members arrange the foursome ahead of time for payment purposes. The tournament will fill up fast, and refunds will not be available. Start planning now to make sure you don’t miss out!
By Christopher Huntley, Attorney
Many tenants have been unable to survive in the current economy or have been looking for ways to reduce their overhead. To help solve their financial woes they have tried to offload that extra office space they no longer need or want. Although landlords are hesitant to release tenants from their leases outright, landlords are willing to consider subleases for a portion of a tenant’s space, or an assignment of the leasehold interest to new financially viable tenants. These arrangements, however, do not always work out for the best and many of these assignees or subtenants invariably breach the terms of their leases. Landlords need to know their rights before they consent to any sublease or assignment, and must be cautious with how they structure such a consent so that when the deal falls apart they have their rights protected. Tenants should also correctly structure transactions so as to avoid or reduce potential future exposure. (more…)
By Tony Carlson, Grandbridge Real Estate Capital, LLC
Welcome to the second installment of Cocktail Confessions. Cocktail Confessions is a bi-monthly publication in which we track down three industry veterans, feeds them some cocktails, and glean answers to three specific questions. Their answers are published exclusively on the Pulse and are meant to provide interesting commentary and insights for the NAIOP constituency. If you have questions you’d like asked for future segments, please leave them in the comments section, below.
In this installment we are pleased to interview:
Jim Freytag, current NAIOP Minnesota President and First Vice President at CBRE; Greg Munson, Vice President at McGough Companies; and Sonja Breyfogle, Vice President with Northmarq. They were each asked the same three questions, and their responses are outlined below.
Question 1: What was the biggest risk you’ve ever taken professionally? How did it work out? (more…)
Think local levies punish mainly outstate regions and central cities, leaving suburbs unscathed? New data could make you think again. Appearing on the front page of the Opinion Exchange section of the Star Tribune, Sunday, March 6.