Build-to-suit (BTS) leases have become increasingly popular, especially with users of industrial real estate, but they present certain development-related issues not found in standard commercial leases. Budget development and reconciliation, bidding, allocation of cost savings, and late delivery are all important items for tenants to understand in order to effectively manage costs and protect against delays in the development schedule.
In this episode, Ian Sutton joins Eric Greenberg and James O'Brien to discuss what differentiates and complicates a BTS lease, how a development budget is generated, additional terms that can help protect tenants, and other important cost considerations.
The Property Line is a brief and lively discussion of the biggest issues facing the commercial real estate industry. The podcast will deliver insights from Seyfarth's real estate lawyers and other industry leaders on current market trends and how they impact all facets of commercial real estate.
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