2015 Is The Year For Commercial Leasing, Apparently

Retail Space AvailableAt least, it has been for me so far. I have been doing a lot of tenant representation so far this year … reviewing and negotiating commercial leases. For some reason my transactional work (loan closings, purchase/sale closings, etc.) has been lagging since the end of 2014, and I’m not sure whether it’s a trend for real estate in general or is specific to my clients and my practice. In any event, the commercial leasing work has helped take up the slack and I enjoy the work and the clients for whom I do it. Generally, it’s fast-paced work … once an LOI has been agreed to both parties want the lease negotiated and executed as soon as possible: the tenant, because they want to get in, get their tenant improvements installed and get revenue flowing in as quickly as possible, and the landlord, because they want the rent to start flowing in as quickly as possible. That sometimes puts stress on the attorney(s) involved because we’re called upon to do our our work in short order, often with the client or their broker in our ear continually asking (or repeatedly emailing) “have you gotten to that lease, yet?” That, in turn, requires an experienced practitioner who is skilled at focusing on the most important issues to his client and is discerning enough not to waste time haggling over terms that aren’t material or that, even if they are material, are very, very unlikely to be changed by the landlord even if objected to. I am glad to have several tenant clients with whom I’ve worked long enough, and for whom I have negotiated enough leases, that I know what is important to them. It is one of the (few, perhaps?) pleasures of this demanding profession to have long-standing clients who trust you and are appreciative of your work and with whom you are knowledgeable enough to know what is important to them and what is a waste of their time and money.  If you need an attorney like that, I know where you can find one!  BH

“I’m waiting for …” What? Why? Don’t wait! Do something!

I saw the post below online this morning and it reminded me of one of those “lessons learned.” As a young associate I once started a response to a senior attorney (who wanted an update on the status of an important matter) with “I’m waiting for ….” That’s far as I got! “Why? Why are you waiting? Pick up the phone and call him. Get it done. GO.”

Whoa. My first reaction was “What a jerk!” And, frankly, he was. THEN, however, I realized the reason I was waiting was because I was intimidated at the prospect of calling the attorney on the other side. I was stalling because of my own insecurity. And there was no reason for it! He’d made his point.

Lesson learned: Whenever you find yourself starting a sentence with “I’m waiting for …,” take a second and think about whether you should be waiting for anything at all or whether, instead, you should take control and make something happen! More often than not that is the better choice!

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Too Busy To Blog! But that’s no excuse …

writing-life-300x200Sorry for my absence, lately! I understand now what marketing professionals mean when they tell me that the key to a successful blog is consistency, as in consistently providing new, meaningful content on a regular basis. Trust me, it’s a really hard thing to do, especially if you demand to personally write all of your own material, as I do. If I don’t write it myself I just don’t “feel” it, it’s not “me”, and that’s not the type of blog I want mine to be.

Unfortunately, the result is that I sometimes fall into the predictable pattern of many bloggers, which goes like this: (1) I find myself not as busy as I’d like to be or I’m busy with pretty mundane or unprofitable work; (2) I write articles to fill in any time gaps I may have, hoping to build business and find meaningful, profitable work; (3) I get busier with good work and feel (almost always wrongly) that I don’t have time for anything else; (4) I neglect to write articles because I’m so busy; (5) Suddenly, I finish a project or wrap up a big closing and realize I’m once again not as busy as I’d like to be; and (6) It occurs to me that I haven’t written an article in a long time and I think “Hey, I really need to write an article.” But it is SO hard to get those wheels turning again once they’ve stopped.

Successful blogging is very much like exercise. To get the greatest benefit one must exercise consistently and regularly because once you slow down or stop, it is 10 times harder to get going again. Same with the blog. Once I’ve slowed down or stopped, getting started again is akin to starting all over again with the proverbial “blank sheet of paper” that just stares back at you while all the great ideas for articles you used to have seem to have just evaporated.

Well, I’m back now and away we go. I’ll try to do better. The good news is that as I write this I am actually pretty busy. The commercial real estate market is clearly heating up, if not to the “hot as the sun” levels of the bubble years 5 or 6 years ago, at least to a nice, steady simmer, and maybe even a gentle boil. New buildings and shopping centers are going up all around the Central Florida area, and I have been working on quite a few commercial leases, purchase and sale transactions, and loan closings, but of course could always do more! Just down the street (17-92 in Winter Park) the new Trader Joe’s is going up fast, as is the new ABC Fine Wine & Spirits across from Winter Park Village, and it looks fantastic. Other parts of the Metro-Orlando area appear to be just as busy. Clients of mine who are commercial tenants report that they are having a more difficult time finding available space and shopping center owners are actively shopping for new centers. All of this bodes well for Central Florida’s economy and I’m glad to see things picking up.

Remember, if you are involved in commercial real estate, buying, selling, leasing or financing, get an experienced commercial real estate attorney (I hope it’s me!) involved early in the transaction. If you’re leasing, have your lease reviewed before you sign it. If you’re buying, have your contract reviewed before you sign it. Hopefully, we’ll all be busy with meaningful, profitable work for a long time to come AND I’ll do a better job of adding new, interesting content to the blog at the same time. And exercising. Mustn’t forget to exercise.

Thanks for reading!

BH

How Do You Define Confidence? Here’s One Way …

ConfidenceSaw this on the internet the other day and it rang true to me. For me, one way of defining confidence as an attorney is being able to respond to a client’s question by admitting, without any shame, “I don’t know … ” but being able to ‘confidently’ add “however, I can get that answer for you.” I recall an instance when, as a young associate at a large firm, I whined to my supervising partner, “You never explain anything to me. I feel like I’m always trying to figure everything out.” He looked at me, perplexed and a little annoyed, and said, “We’re ALL just trying to figure everything out.”

Lesson learned. NOBODY has all the answers.

When hiring an attorney don’t be dissuaded by one who says “I don’t know.” Instead, if he or she has the other characteristics you’re looking for … solid reputation, significant experience, strong work ethic, a personality you’re comfortable with … be encouraged by their willingness to be open and honest and rely on their determination to doggedly pursue the answer. Remember, the “law”, like the “internet”, is a massive thing. Nobody knows it all. BH

Two Words On “Attitude” …

Captain Jack Sparrow, channeling Charles R. Swindoll …

Captain Jack Sparrow - AttitudeThe longer I live, the more I realize the impact of attitude on life. Attitude, to me, is more important than facts. It is more important than the past, than education, than money, than circumstances, than failure, than successes, than what other people think or say or do. It is more important than appearance, giftedness or skill. It will make or break a company … a church … a home. The remarkable thing is we have a choice everyday regarding the attitude we will embrace for that day. We cannot change our past … we cannot change the fact that people will act in a certain way. We cannot change the inevitable. The only thing we can do is play on the one string we have, and that is our attitude. I am convinced that life is 10% what happens to me and 90% of how I react to it. And so it is with you … we are in charge of our Attitudes.  Charles R. Swindoll