Description

Stories from Franchisees & Founders

Sourcing a franchise location and learning to understand how a commercial lease agreement works can be daunting. The technical jargon can be overwhelming—and these agreements are riddled with things you need to know. On this episode of Franchise Secrets, I interview Eric Finkelstein and we talk about everything from crafting your Letter of Intent to finessing the final lease agreement itself.

Eric is a commercial real estate attorney at the firm of Chiesa Shahinian & Giantomasi. He graduated from Boston University and Rutgers University School of Law. With years of experience under his belt, he is a wealth of knowledge for his clients and a valuable asset. He's joining us today to give you some insight into commercial real estate!

Outline of This Episode

• [0:35] Introduction of Eric Finkelstein
• [3:45] What a Letter of Intent should contain
• [7:08] Jumping into details about a commercial lease agreement
• [12:15] Assignment and subletting
• [15:49] Covering non-competes: why everyone wants them
• [20:30] Educate your landlord on your business and how it works
• [21:25] Sound mitigation issues to consider
• [25:20] Things to consider in the tail end of lease negotiation
• [27:45] Tenant improvement dollars (TI dollars) and free rent
• [32:40] What a tenant should be aware of if their landlord changes
• [34:10] What happens when the property you lease is reassessed

Resources & People Mentioned

• Chiesa Shahinian & Giantomasi Law Firm

• Letter of Intent

Connect with Eric

• Eric Finkelstein
• Eric's LinkedIn

Connect With Erik

• Facebook
• LinkedIn

For the full episode notes, and to subscribe to the Franchise Secrets Podcast, click here.