Law360, New York (March 14, 2016, 10:58 AM EDT) -- Leases are one of the longest lived transactional documents in the real estate industry. Unlike a purchase or sale transaction, the "closing" is just the beginning of a long-term relationship between a landlord and tenant. This dynamic is much more notable in the life sciences context and the process of lease negotiation and implementation requires communication and cooperation between teams of people representing both the landlord and tenant. The lease creates a roadmap for what can be a very long tenancy, and needs to be carefully negotiated. Due to the specialized nature of life science uses and increased capital infrastructure required for life sciences companies, lease terms are typically longer than other types of leases and the motivation to renew in place is much higher, so having a good underlying lease is critical. This article outlines some of the most common issues encountered when negotiating a lease with a life sciences company....