Legal Question in Real Estate Law in Massachusetts
28 Page Lease
I am currently interested in leasing a 2500 square foot retail property that has 1 other occupant. The building is set up as a duplex with no common area aside from shared walls. We received a 28 page lease to review the first week of March. Every change made requires our attorney to review the entire 28 pages again.
I have been told that such a large lease is usually used for very large buildings, malls, etc.
We are still negotiating this lease. Our business does not entail anything hazardous or unusual.
Is this lease common for this type of property ? I have thought about sending it back and requesting a 5-10 page lease as I feel it is more appropriate for this situation. If they reject my request perhaps I should seek an alternative property.
1 Answer from Attorneys
Re: 28 Page Lease
While a 28 page lease seems a little bit long, it is not so important as to how long it is as to what it says. I have had commercial leases that are shorter and longer.
Some of the provisions may relate to the financing on the building and certain terms may be required, still this may be the lease the Landlord's attorney uses. Commercial Leases tend to be a little longer than conventional apartment leases. What is important is not its length, but what it says.
If the cost of hiring an attorney to review the lease is what is troubling you, that is a different issue.
Please feel free to contact me if you have additional questions.