Why Spruce Law’s Corporate Real Estate Strategies Practice (CRES):
You have or will have greater than 50 leased locations, or you own at least 3 commercial or multi-tenant locations (e.g. shopping centers, office buildings, or industrial portfolios).
You need experienced counsel to quarterback for your company’s real estate portfolio.
For corporate clients, real estate is not “core” to your business (“it’s not what you do”), but real estate spend is a growing component of your P&L.
You are under-resourced internally to efficiently handle the steady flow of real estate documents (leases, agreements of sale, assignments, estoppels, SNDAs, subleases, etc.).
You have been burned in the past by poorly negotiated leases (no expansion, termination and/or assignment rights, unanticipated repair costs, etc.).
Your traditional outsourced counsel has been inconsistent, expensive, slow, and is too often staffed by inexperienced associate attorneys who don’t know how to get deals done efficiently.
Legal fees for real estate contracts have blown your legal budget.
Program Benefits (“How We Do It”)
We customize our implementation process for each Corporate Real Estate client and routinely utilize alternative billing arrangements. Our collective 30+ years of experience managing the legal aspects of large corporate real estate portfolios informs our proven process, which includes:
- Step 1 (Form Language Leasing Playbook): We interview company stakeholders to develop a customized policy and form language directory for your real estate deals that catalog the key issues about which you care most. We also develop pre-approved fallback positions to drive consistency and efficiency with each deal.
- Step 2 (Broker Playbook Development): We identify the hard issues that tend to frustrate the negotiation and documentation process and arm your brokers with a “must have” checklist that is given to counterparties before a deal goes to LOI. This cuts down time and expense on the backend.
- Step 3 (Deal Flow Management): Your deals are docketed in our deal tracker and a full-time corporate real estate paralegal manages “document-turn” deadlines and “prods” deal participants for deliverables that are stuck in one party’s side of the court for too long. This shortens the timeline between LOI and signed deals and gets your locations up and running faster.
- Step 4 (Budgeting): Once we develop a working knowledge of your deals, we implement cost-saving measures and help budget your real estate legal spend going forward.