What Our Clients Are Saying

Mickey was instrumental in our acquisition of numerous high-profile office projects in California. His expert work in abstracting the leases we were about to inherit, not to mention his scrutiny and correction of the associated Argus input information, was vital to our ability to understand what we were getting."

~ The Irvine Company (during their Due Diligence phase in acquiring major properties in California)

We’ve come to depend on Mickey’s expertise. He’s not only advised us very well on some complicated matters, but his work in abstracting our leases and setting up our lease file systems has been tremendous. His work and recommendations have already resulted in over $1M of actual cash savings for our firm."

~ Facilities Group for a Major Automotive Manufacturer



Lease Abstracting

MKC Asset Management’s commercial real estate lease abstracting provides executive, financial, and operational personnel an efficient and readily understandable “executive summary” of the important information contained in each of their commercial real estate leases. While many other lease abstracting systems can summarize real estate leases fairly well, all but one (ours!) have multi-page abstracts of between 5 and 11 pages long (which is the length of some real estate leases!). Our exceptional and unique 1-page Lease Abstracts, containing over 190 information items set in pre-formatted forms for easy viewing and consistent informational reference locations, provide all of the important lease information as well as references back to the applicable lease pages for more substantial and/or specific details if and as needed.

Our 6-Step Process

Our 6-step process of abstracting a commercial real estate lease is highly regimented and thorough:

  1. Starting with the lease documentation itself, we first review it to ensure that all relevant documents and pages have in fact been provided, and if not we identify what appears to be “missing”.
  2. Then, starting in reverse order with the most recent amendment, we review each clause/provision on each page of each document highlighting certain words or phrases (these are the important ones that contain information shown on the Lease Abstract) and at times making notes in the side columns of the pages to either clarify what the lease language says or to indicate how it was interpreted. We also take this opportunity to make notes on and mark up earlier amendments or the lease itself showing the changes made by subsequent amendments – all of which resulting, fully marked-up lease documents are a “working copy” of the entire lease that reflects the current status of all clauses/provisions.
  3. Once the entire set of documentation has been so reviewed, we then go back to the beginning and start transferring, one page at a time, “executive summary” information onto our Lease Abstract forms including noting where in the lease documentation all such abstracted information came from (so that a reader of the Lease Abstract who wants more detailed information can later immediately find the associated clause/provision in the lease documentation).
  4. After transferring all information onto our Lease Abstract form, we then check it to ensure that all of the required data elements have been entered, and if something is missing we return to the lease documentation to either find whatever is missing or to be convinced it’s not addressed in the lease.
  5. The actual inputting of the information into our software program is next and includes yet another check to ensure that all relevant information has been “abstracted” correctly and reflected on the Lease Abstract in a “consistent” manner.
  6. The final step is the production of the Lease Abstract(s) and all associated reports with their data sorted either alphabetically or by date, depending on the report.

Our “Work Product”

MKC Asset Management’s “Lease Abstracting Service” for both Corporate America and for Property Owners targets a quick turn-around of:

  • A comprehensive 1-page Lease Abstract for each lease;
  • A “working copy” of the lease documentation (for the client’s use and files) that has been reviewed and abstracted with:
    • Certain words/phrases “highlighted” to reflect (i) the items that have been placed on the 1-page Lease Abstract for easy future reference by any reader/user, and (ii) other important phrases that the reader/user should be aware of; and
    • Comments/notes in pencil in the side margins of the lease documentation to document calculations, assumptions, and conclusions, explain meanings, etc.
  • Various reports that sort the lease data for all of the clients’/projects’ leases such as:
    • “Contact List” Report – This is a summary of the contact information (e.g., name, phone, fax, email, etc.) of the primary personnel in each abstracted location.
    • “Property List / Locations” Report – This is a summary listing of the location, address, square footage, HVAC hours, parking rights, security deposit amount, and lease commencement and expiration, all in alphabetical order sorted by city and then by address.
    • “Options & Ticklers” Report – This is a summary of the various options and ticklers stated in the leases (e.g., lease cancellation options, lease renewal options, lease expansion options, rights of first refusal/offer, and other important reminder ticklers such as time-sensitive notifications required to be delivered to a landlord or tenant; reminders of additional landlord provided re-painting and re-carpeting alterations of a tenant’s premises; reminders of scheduled security deposit increases; etc.) all sorted by “date” in ascending order.
    • Other Reports – Other reports can be easily designed and produced to fit the needs of the user.

Lease Abstracting for Corporate America and Property Owners

MKC Asset Management’s lease abstracting system for Corporate America is known as

(CorpAmerica Lease Abstracting Software System)

MKC Asset Management’s lease abstracting system for Property Owners is known as

(BuildingAmerica Lease Abstract Software Technology)

For a more in-depth discussion of the features and benefits of each, please click on them to obtain the applicable file.

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