Real estate can be a company’s most important asset — and its greatest liability. To take full advantage of emerging opportunities and avoid costly commercial pitfalls, businesses must be particularly careful in their approach to leasing. At Troutman Sanders, our significant, active and sophisticated commercial real estate leasing practice can help lessors and lessees manage their local, regional and national real estate portfolios more effectively.

Many of our clients develop, own and require space across the country. As a result, our leasing practice is national in scope. We represent landlords (e.g., developers, office and retail development owners, and pension funds and other long-term investors) as well as tenants. We understand that completing work correctly, promptly and in a cost-effective manner is of paramount importance to our clients. To that end, we tailor our assignment of senior attorneys and newer, well-trained associates to each client engagement, properly matching the skills and experience of the attorney to the transaction at hand.

Our high volume of work allows us to be very efficient. We have negotiated and drafted leases for virtually any scenario or issue that might arise in a lease negotiation. In any given year, we typically will be involved in three to five of the largest office-leasing deals, on the leasing side, in several of the markets in which we practice.

Our direct engagement in a variety of markets gives us an excellent perspective on typical and emerging market terms and provisions, changes in laws or client business goals, and how market shifts affect the drafting of leases. We also have an appreciation of how capital and debt markets fluctuate in the way they value (and sometimes punish) leases, and can help clients maximize long-term returns and financing opportunities.

Our attorneys represent retail tenants and end-users of retail space, as well as retail developers and other long-term investors and owners of retail sites. We engage in a variety of markets for big-box tenants, out-parcel users and in-line store tenants. We also have an appreciation of how leases, uses and occupancy of one user can affect the remainder of a project. As such, we know the provisions to include to best protect the value and utility of a retail site, and which provisions to properly craft to avoid long-term negative impacts on users and tenant/user rights.

We engage in leasing at all stages of development, with a special focus in the following areas:

  • Buildings under or in the initial stages of construction
  • Buildings under condominium regimes
  • Anchor-level (100,000 square feet or more) leases
  • Sale/lease-backs where the seller retains a significant lease presence in the asset being sold

Representative Retail Leasing Experience

  • Represented the largest retailer in the United States in leases in 10 states throughout the south and mid-Atlantic regions of the country.
  • Represented a national, branded fast-food restaurant in their out-parcel acquisitions, and have handled hundreds of their leases across the United States.
  • Represented one of the largest cell-service providers in the United States, with thousands of leases and co-location agreements executed throughout the United States.
  • Represented a highly visible branded retail concept in their leases in malls and shopping centers across the United States.

Representative Office and Industrial Leasing Experience

  • Represented the owners of more than 8,000,000 square feet of office space in cities in the southeast United States in their day-to-day project and portfolio leasing. Representation included engagements on behalf of owners of 100,000 square feet or more on eight to 10 leases per year.
  • Represented the tenant in a 100,000 square-foot lease for the company’s world headquarters in a to-be-built, specialty use, single user building.
  • Represented a national company in the relocation of their national headquarters to Atlanta in a 100,000 square-foot lease that was named as the national deal of the week by the Wall Street Journal.
  • Represented the developer of general corporate headquarters on build-to-suit transactions structured as a lease.
  • Represented a national life insurance company in analyzing their lease rollover risks and appropriate strategic moves on large single-user assets under lease throughout the United States.