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Jessica Elliott

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For over 18 years, Jessica’s practice has focused on all aspects of commercial real estate.  She started her legal career as in-house counsel with a large commercial real estate landlord with a portfolio of over 3 million leasable square feet in the Triangle.  During her time in-house, Jessica negotiated leases, SNDAs, tenant estoppels, termination agreements and other related commercial leasing agreements with tenants of all types and sizes.  Since moving her practice, Jessica has used her knowledge as landlord’s counsel to help tenants navigate through the commercial leasing process and mitigate risks whether it’s the first commercial lease or the tenth.  Jessica has been able to help the Firm’s franchise clients understand the entire commercial leasing process from beginning to end.

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For lease sign
For lease sign at industrial park. Focus on words.

A properly negotiated lease is critical to protecting your franchised business as well as the franchise network and brand. For franchisors, entering into a commercial lease agreement is an important step as the location out of which a business operates is critical to its success. Indeed, the adage “location, location, location” is much more than a cliché: Your business should be in a prime spot with heavy traffic and other quality (non-competing!) businesses nearby that attract patrons. Aside from location, there are other issues inherent in leasing, most notably, securing a lease that protects your ownership interest in your franchised business.

Franchisors often encounter these scenarios: changes in your business model, competition from nearby competitors, struggling franchisees, and a need to assign the lease to a new party.  Here are a few key considerations in negotiating and executing a lease agreement that will help you address these situations.
Continue Reading Leasing Issues in Franchising