MAREJ A DVERTISERS D IRECTORY 2A — March 16 - 29, 2012 — Mid Atlantic Real Estate Journal Allied Building Corp. .................................................................30C Aztec Architecture......................................................................33C Barry Isett & Associates ............................................................15B Beacon..................................................................................... 4B,3C Ben Franklin Tech Partners......................................................20C Berger Organization ..................................................................19C Bergman RE Group......................................................................7C BL Companies ............................................................................ 11B Bohler Engineering....................................................................26C Brasler .......................................................................................IC-B Bruce Coin Consulting............................................................... 10A Bussel Realty Group .................................................................. 25A Butler Mfg .................................................................................. 21A Cassidy Turley............................................................................15C CBC Bennett Williams........................................................ 5B, 40C Cervelli Mgmt. Corp. ................................................................. 19A Chambers Architecture Inc........................................................ 20A CIRC Commercial-Industrial .................................................... 31A Columbia Bank........................................................................... 11A Community Investment Svcs ......................................................9C Cooper-Horowitz, inc.................................................................... 9A Cronheim Mortgage ................................................................... 11C Cushman & Wakefield ........................................................... 3C,5C Deerwood ...................................................................................... 8A Dermody Properties .....................................................................4C Design Point ...............................................................................15B Dischell Bartle & Dooley ...........................................................26C DMR Architects ..........................................................................20C Earth Engineering .......................................................................4B Falcon Energy Consultants .......................................................25C Fameco Real Estate ...................................................................22C Fitzpatrick Lentz & Bubba................................................ 15B,35C Fix Asphalt ...............................................................................BC-A Gebroe-Hammer Assoc...............................................................14C Gerber/Somma Assoc. ............................................................ IBC-A Gibbons .........................................................................................1C Gloucester County NJ................................................................28C Greenbaum Rowe .......................................................................35C Griffin Land..................................................................................2B Hance Construction, Inc ............................................................29C Hartz Mountain Industries .......................................................23C Harvey Hanna ................................................................1A,29A,9C Heller Industrial Parks ............................................................. 17A HFF...............................................................................................7C High Associates ............................................................................7B Hinerfeld.......................................................................................1B Hylant Environmental...............................................................13B Investors Realty Inc................................................................... 28A K&W Engineers ......................................................................... 11B Kaplin Stewart ............................................................................. 2A Katz Properties ...................................................................... IBC-B Kislak Company Inc.......................................................... 16A,IC-C KW Comm’l.-James Balliet..........................................................2B Landcore Engineering ...............................................................13B Landmark JCM.......................................................................... 31A Lebanon Valley...........................................................................12B Lipinkski.......................................................................................9B LMS Commercial .........................................................................8B M&E Engineers, Inc. .................................................................24C M. Miller & Son............................................................................ 3A Marcus & Millichap ........................................................11C,IBC-C Marvin Comm’l. Products..........................................................21C Matrix ......................................................................................... 15A Max Spann Real Estate Co........................................................13C Mc Gowan Builders, Inc.............................................................30C McMahon ......................................................................................3B Mericle Comm’l. RE ............................................................... BC-B Meridian Capital Group ...................................................... 3A,17C Metro Commercial................................................................ 4B,11C NAI CIR........................................................................................5B NAI Comm’l. Partners ............................................................... 11B NAI Emory Hill ..........................................................................37C NAI James E. Hanson ............................................................ BC-C Nave Newell ......................................................................... 4B,25C Northmarq.......................................................................... 23A,39C O’Donnell & Naccarato ..............................................................27C Ondra-Huyett Associates.............................................................3B Patterson Woods......................................................................... 31A Penns Northeast ..........................................................................2B Perseus Realty..............................................................................2C Poskanzer Skott Architects ....................................................... 24A Prism...........................................................................................18C Progress Realty Advisors ...........................................................16C Property Owners Assoc .............................................................. 32A Provident Bank .........................................................................IC-A R.S. Phillips Steel ...................................................................... 20A RE/MAX of Reading ..................................................................... 6A Regal Bank ................................................................................. 22A Ricker Danzig..................................................................... 14A,34C ROCK Commercial................................................................. 6B,5C Rose Metal Systems .................................................................FC-B RSC Architects ...........................................................................33C SEBCO........................................................................................ 14A Sheldon Gross Realty................................................................. 14A Sloan Street................................................................................31C Sustainability Symposium .......................................................... 3A The Prestige Group ......................................................................2B Thomas Phoenix Int’l................................................................. 20A Tranzon Auction ........................................................................... 5A Tristate ...................................................................................... 35A Vantage ....................................................................................... 32A WP Realty ..................................................................................12C
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Mid Atlantic Real Estate Journal
Mid Atlantic R EAL E STATE J OURNAL Publisher ............................................................................Linda Christman Co-Publisher .........................................................................Joe Christman Section Publisher ..............................................................Michael Campisi Section Publisher ................................................................Elaine Fanning Senior Editor/Graphic Artist ................................................ Karen Vachon Production Assistant ........................................................ Rachel Rugman Office Manager ...................................................................Joanne Gavaza Editorial Consultant ............................................................. Ben Summers Guest Columnist .................................................................Barbara Anisko Mid Atlantic R EAL E STATE J OURNAL ~ Published Semi-Monthly P.O. Box 26 Accord, MA 02018 (Mail) 312 Market Street, Rockland, MA 02370 (Overnight) Periodicals postage paid at Rockland, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal, P.O. Box 26, Accord, MA 02018 USPS #22-358 | Vol. 24 Issue 5 Subscription rates: $99 - one year, $198 - two years, $4 - single copy REPORT AN ERROR IMMEDIATELY MARE Journal will not be responsible for more than one incorrect insertion Toll-Free: (800) 584-1062 | MA: (781) 871-5298 | Fax: (781) 871-5299 www.marejournal.com The views expressed by contributing columnists are not necessarily representative of the Mid Atlantic Real Estate Journal
ver the past several years as businesses struggle to ride out the tough economic times, they have had no choice but to down- size. Tied to commercial leases for more office or retail space than they need, an assignment of the lease or the subletting of the extra space seems like an attractive way of saving on expenses. In making the deci- sion whether to assign or sublet, the tenant should first carefully examine its lease to determine whether the lease contains any provisions prohibiting or re- stricting assignment or subleas- ing. Commercial leases, like any other contracts, are governed by their terms. Therefore, whether a tenant has the right to assign a lease to another party or to sublet the leased premises to another tenant depends on the language of the tenant’s lease with the landlord. If the lease does not contain language prohibiting or restricting the assignment or transfer of a ten- ant’s interest, a tenant is free to assign or transfer all or part of its interest. A tenant is not O By Barbara Anisko, Esq. A tenant’s right to assign or sublet a commercial lease
required to obtain prior consent of the landlord, unless the lease contains language requiring the tenant to obtain prior consent of the landlord. Inmaking the decisionwheth- er to assign or sublet, the tenant should also understand the le- gal differences between the two concepts. An assignment of a lease is the transfer by the ten- ant of all of the tenant’s rights and interest in the lease. In an assignment, although the as- signee tenant effectively steps into the shoes of the assigning tenant, the assigning tenant continues to remain liable to the landlord on the lease. With an assignment, if the assignee breaches, the landlord has the
continued on page 3A A sublease is different from an assignment. A sublease is a separate contract between the transferring tenant and the subtenant. The sublease may transfer all or a part of the leased premises, for all or a part of the lease term, and under terms that are similar or materially different from the lease. As with an assignment, the tenant remains liable to the landlord on the original com- mercial lease. With a sublet, the landlord does not have a legal right to enforce the terms of the original lease or sublease right to enforce the terms of the lease against the assigning ten- ant or the assignee tenant.
Contact: Barbara Anisko, Esq. 910 Harvest Drive, Blue Bell, PA 19422-0765 • 610-260-6000 • www.kaplaw.com Other Offices: • Cherry Hill, NJ 856-675-1550 • Philadelphia, PA 215-567-3120 Kaplin Stewart A t t o r n e y s a t Law Real estate law from the ground up. Experience Counts. Count On Us.
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