Tenant, Lender Lease Agreements Could See More Demand in Oklahoma

Summary

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For years, tenants have had little to worry about as many shopping centers and office buildings had solvent owners. But if owners hit hard times or file for bankruptcy protection, the status of tenants can become uncertain, especially if a property reverts back to a lender.

In the current economic climate, Chris Griswold expects more tenants to follow the trend of national chains and establish a contract with their landlord's lender. The agreement would cover subordination, non-disturbance and attornment to protect the leaseholder in the event the landlord becomes insolvent.

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Extract

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Tenant, Lender Lease Agreements Could See More Demand in Oklahoma

Griswold, who worked as legal counsel for Pier 1 and JCPenney before starting his practice in Oklahoma in 2007...

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