The Letter of Intent has both a legal purpose and a business purpose.
A Letter of Intent or term sheet allows the parties to confirm there is a meeting of the minds on key business terms before investing the time and expense of negotiating lease documents. However, it is important to underscore non-binding nature of a Letter of Intent. This video reviews the uniformity of letters of intent, and highlights key issues for the ease of drafting and negotiating leases.
Manuel Fishman, Esq.
- Shareholder with Buchalter Nemer
- Focuses practice on representing real estate developers and owners in the acquisition, sale, and financing of commercial properties
- Active leasing practice representing owners of several major office buildings in San Francisco, including the Transamerica Pyramid, as well as tenants in lease and sublease transactions
- Expertise includes letters of intent, tenant improvement work agreements, security deposits/letters of credit, signage rights, expansion and contraction rights, permitted transfers, operating expense audits, and lender and master landlord recognition agreements and extensive experience in the area of ground leasing and retail leasing
- Leading attorney in the area of landline and wireless communications and Internet-based services in commercial properties and rooftop installations
- 2020 Best Lawyer in America in real estate law, an honor he has received since 2007; 2014 Top Rated Lawyer by American Lawyer Media, 2012-2018; one of Bay Area Magazine’s Top Lawyers in the Bay Area; and recipient of the 2019 Raymond C. Nann Distinguished Service Award
- Frequent lecturer on office and shopping center leasing matters and frequently writes for industry newsletters
- J.D. degree, magna cum laude, Santa Clara University School of Law; B.A. degree, State University of New York at Purchase
- Can be contacted at 415-227-3504 or [email protected]
Margaret R. Duskin, LEED GA
Cushman & Wakefield of California, Inc.
- Executive Director with Cushman & Wakefield in San Francisco, one of the world’s key office property markets
- Was recruited to Cushman & Wakefield in 1998, from the Ernst & Young Real Estate Consulting Group
- Recognized as a market leader in office leasing and sales
- Sold or leased over 10 million square feet of office and retail property
- Real estate career includes commercial property brokerage, corporate consulting, and advisory services
- President of a regional brokerage firm (eight offices in Northern California)
- With this diverse experience, works with clients on a higher level of business challenges and creative solutions; applies an insightful, consultative approach based on real-life acumen
- Understands management goals, budgets, HR, and governance issues
- Specializes in complex deal structures, advanced lease negotiations, and corporate strategic planning
- Known for expert communication skills, achieving client’s commercial property goals through visioning, strategic planning and financial analyses, and teamwork
- Focus is tenants, particularly law firms; venture capital and advisory; corporate clients, plus health care
- Investment experience is extensive and varied
- Experienced as 15+ years of landlord representation
- Sophisticated knowledge of what buyers/owners/ landlords want to achieve in cap values, ROI’s and leasing
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