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Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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Then Doctor tenants signed a 10 year $3 million lease with

Customer Question

Then Doctor tenants signed a 10 year $3 million lease with broker representing both sides. When asked if they should have their own broker they were told No. A second amendment was just completed getting rid of sub leasing clause, getting rid of first rt of refusal. the initial lease showed rent cost by the foot . when correcting second amendment, the rent was changed to monthly rent. In reviewing square footage for new remodel of surgicenter, and trying to correct CAMS, it was noticed a big discrepancy in actual useable and rental sq ft.--they were using gross sq footage from building plans and county numbers and not useable. I had the architect firm do sq ft analysis for entire building and actual sq ft used decreased about 250 sq ft. Doesn't sound like a lot but over 10 years it comes to about $50,000. Broker is now saying owner will not change or correct. I feel the broker screwed up here by not really reading through entire contract , personaly checking numbers etc. When I read lease, it was so landlord heavy I could not believe what owner and broker got away with. Tenants were trusting broker. Face it, docs are surgeons and very busy and were trusting the broker to make it fair. My question is I want to correct sq footage and get rent payments so they are accurate. What can I do. I am a friend of Docs , retired, a fair amount of real estate experience. I do not want to piss broker off but I feel he made a big mistake representing both sides--$3million lease--commission probably $100,000 to $150,000. and not reading lease thoroughly. Prior broker did it and then left country on a mission --present brokers Dad. Thank you John j Pavlicek
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
What state is this in?

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