Real Estate/Development
Feb. 4, 2012
Landlords and commercial tenants spar over renewals
Lawyers say disputes over commercial lease renewals have become common, often ending in arbitrations, and that combative climate means more work and new roles for transactional attorneys.
Daily Journal Staff Writer
When the West Los Angeles firm Indivest Inc. went to renew its ground lease at the Murdock Plaza building, the company had some idea what the space was worth in a sour economy. The property's landlord, it turned out, had its own idea, and the two numbers were more than $4 million apart.
Talks broke down, and the dispute ultimately went to arbitration. Attorneys for Indivest, a real estate developer...
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