May 26, 2020

Q&A: DAVID FRIEDLAND OF CUSHMAN & WAKEFIELD ON NEGOTIATING INDUSTRIAL LEASES

David Friedland is an executive director and Chicago industrial group leader at Cushman & Wakefield, a global commercial real estate services firm. A broker for 26 years, David has worked with Scott Hargadon at MPS Law for 10 years on several leases. He spoke with us in May, 2020 about MPS Law’s negotiating tactics, why attorneys can make or break a deal, and how the future is bright for industrial leasing.</>

What sort of deals have you closed working with MPS Law?
We have done major industrial leasing deals with Scott – often spaces that are around 500,000 square feet, such as warehouses and manufacturing sites, in the Chicago area. These sorts of negotiations can get complicated. Commercial leases are often 50- to 60-page documents. Scott and his team understand every aspect of those leases like no other attorneys I’ve ever encountered. To do that, you have to be a jack of all trades – you have to understand not only leases but insurance and risk. His insurance knowledge is often better than the insurance company professionals themselves.

What do you like best about working with the commercial tenant leasing team at MPS Law?
Scott and his team are extremely efficient. His memo process – which lays out the issues from the start – is very streamlined and effective. His temperament is also fantastic. He doesn’t let the conversation get heated and fall apart. I’ve dealt with hundreds of real estate attorneys, and Scott and his team are best in class.

How do you think commercial leasing will change in the face of issues like COVID-19?
Industrial space will fare the best of all, mainly due to the rise in e-commerce. There is also going to be less dependency on China, due to trade wars and lack of quality controls, so more companies will manufacture their goods in the United States. Companies are also going to create manufacturing redundancies to mitigate the risk of a possible shutdown. So warehouse and industrial space have very bright futures.