How To Negotiate Rights Of 1st Offers

Law360, New York (May 10, 2012, 12:30 PM EDT) -- A right of first offer (ROFO) to lease is a contractual provision granting a tenant a preemptive right to lease additional space during its lease term. A ROFO is particularly useful in cases in which a tenant expects to grow during its lease term. When carefully negotiated, a ROFO can be beneficial to a tenant and not detrimental to a landlord.

A ROFO should require a landlord to present a tenant with an offer to lease any vacant space before it offers to lease the space...
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