For Shulman Rogers, Teamwork Makes The Dream Work In Commercial Leasing

With some commercial real estate assets contending with increased vacancies, landlords are exploring creative ways to attract tenants. While some landlords may make a property enticing with high-quality design and diverse amenity offerings, others may embrace creative lease structuring and offer concessions such as providing periods of free rent.

 By working with experienced commercial leasing attorneys, who will draft and negotiate leases quickly and counsel their clients, landlords and tenants can better understand the practical, real-world effects and consequences of the various lease terms.

The veteran commercial real estate leasing team at Washington, D.C., metro area law firm Shulman Rogers focuses on a “client-first, deal-first” approach to closing deals efficiently while also understanding that a client’s real estate concerns will likely extend beyond the execution of a single lease, said Steve Levey, an attorney who recently joined Shulman Rogers. 

One of the firm’s strategies to help clients is to engage other CRE attorneys or those in adjacent specialties, such as zoning, construction and litigation, who can bring specialized knowledge to the lease negotiations or project as a whole. Together, these attorneys work as a team to provide clients with comprehensive advice.

“There are so many different issues in a lease, and while some issues are more important than others, they all need to tie together,” Levey said. “If you can consult regularly and easily with counsel within the turnaround time that Shulman Rogers provides, it’s almost like bringing outside counsel in-house.”

Shulman Rogers real estate partner Neil Hood said tenants are increasingly seeking flexibility in their deals, including the ability to easily expand or contract in the future, and are demanding greater protections to stay in their space even if there’s an issue between the lender and landlord.

Hood said that, in the latter case, when he represents a landlord, he may consult with a Shulman Rogers colleague who is handling debt financing for the same building.

“I can walk down the hall and discuss the relationship between the landlord and their lender, where they are in the financing process and if we need to coordinate the lease with the client’s other needs,” Hood said. “It’s all part of a broader practice.”

Shulman Rogers real estate partner Marc Bergoffen said CRE attorneys work closely with clients during each stage of buying or selling an asset, and their colleagues can be brought in at any point to advise. Shulman Rogers lawyers with land use and zoning expertise can help the property get zoned for a specific use, while those who specialize in litigation and bankruptcy can step in if an asset takes a turn for the worse.

Shulman Rogers lawyers can address issues or considerations in the corporate, tax and employment realms by tapping their colleagues who specialize in these fields, Bergoffen said.

“It’s not often that a client just needs assistance with one lease and won’t have a need for legal assistance in another area,” he said. “At Shulman Rogers, all of the questions clients may have can be answered under one roof.”

Shulman Rogers Managing Partner and CRE attorney Sam Spiritos said the firm is always looking to gain insight into clients’ businesses and goals and to assist them beyond creating and negotiating leases, whether it be connecting them to another CRE professional, helping them facilitate financing or making other meaningful introductions.

“We have been very fortunate to attract nationally known, well-regarded leasing lawyers, such as Neil and Steve, to enhance our leasing practice, which includes Marc Bergoffen, Commercial Leasing Practice Chair Doug Hirsch and the rest of the CRE team,” he said. “We’re excited to add value to our clients, not only by doing exceptional legal work but also by connecting them in impactful and productive ways.”

Levey emphasized the importance of getting deals done quickly, as tenants may be seeking out deals for various projects or negotiating multiple deals simultaneously. He said getting deals over the finish line efficiently “takes a village” and requires consultation and compromise with opposing counsel and a party's various teams, such as development, construction, management and accounting.

“CRE professionals need someone committed to not only laying out the right language and going over the legal issues but also to address business points and walk clients through the risks in a deal,” he said. “Are certain provisions worth fighting over or do we move on and talk about things that create more risk to the client in the lease?”

This article was produced in collaboration between Studio B and Shulman Rogers. Bisnow news staff was not involved in the production of this content.

Studio B is Bisnow’s in-house content and design studio. To learn more about how Studio B can help your team, reach out to studio@bisnow.com.