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Lloyd F. Cornett

Partner Admitted to the Ontario Bar: 1980
Certified Specialist in Real Estate Law by the Law Society of Upper Canada

After 38 years of practice, Lloyd’s experience, communication skills and responsiveness have set him apart from other real estate and commercial leasing lawyers. A noted writer, Lloyd is strong at drafting contracts and other transactional documents, while his calm and composed nature ensures that his clients feel at ease in any situation. Lloyd’s focus on commercial leasing has led to his involvement in many of the most significant leasing transactions completed in Toronto in the past few years.

Lloyd is a member of the firm's Real Estate Group. He represents property owners and managers, private and institutional investors, developers, brokers and business owners with respect to real estate. He has been involved in the acquisition, management, leasing and sale of properties and has significant experience in the preparation and negotiation of construction contracts.

Lloyd's practice is predominately focused on commercial leasing matters. He designs and drafts lease documents for differing types of developments, represents both landlords and tenants in lease negotiations, and provides advice regarding lease defaults and remedies. As part of his commercial leasing practice, Lloyd has represented some of Canada's most prominent property owners, managers and tenants. 

Lloyd began his career at Aird & Berlis in 1978 as an articling student. 

Awards & Recognition

  • Recognized in The Best Lawyers in Canada in Commercial Leasing Law and Real Estate Law
  • Appears in The Canadian Legal Lexpert Directory as a leading lawyer in the area of Property Leasing
  • Selected for inclusion in Who’s Who Legal: Real Estate and Who's Who Legal: Canada

Professional Involvement

Professional Activities

  • Lloyd has been a panellist, moderator and a co-chair of the RealLeasing Conference held annually in Toronto since 2002.
  • He has spoken at programs concerning commercial leasing offered by The Law Society of Upper Canada, the Ontario Bar Association and other organizations, and has been a guest lecturer on construction law issues at the Faculty of Administrative Studies, York University (Schulich School of Business).
  • Lloyd is also a past member of the Advanced Commercial Leasing Institute Advisory Board at Georgetown University Law Centre, Department of Continuing Legal Education in Washington D.C.

Memberships

  • Interlaw North American Real Estate Group
  • International Council of Shopping Centers (ICSC)
  • National Association of Industrial and Office Properties (Toronto NAIOP)
  • Building Owners and Manager Association (Toronto)
  • Canada Green Building Council (Greater Toronto)
  • Toronto Construction Association
  • Canadian Construction Association
  • Canadian Design-Build Institute

Representative Matters

Represented Integrated Grain Processors Co-operative Inc., an Ontario co-operative with more than 840 members, and its newly incorporated wholly-owned subsidiary IGPC Ethanol Inc. in the acquisition of the land, the negotiation of a construction contract and the completion of the financing necessary to design, develop, build and operate a 150 million litre ethanol production facility in Aylmer, Ontario.

Represented JPI Group in connection with the development, construction, leasing and sale of two major multi-residential projects in downtown Toronto.

Acted for Brookfield Properties Ltd. in connection with the negotiation of numerous major office and retail leases in Brookfield’s Toronto projects, including Brookfield Place, Atrium on Bay, First Canadian Place, Bay-Adelaide Centre and Queen’s Quay Terminal.

Represented office and retail tenants, including RSM Richter, Adobe Systems Canada Inc., Meloche Monnex Inc., Lawyers’ Professional Indemnity Company, Salesforce.com Inc., Atlantis Pavilions Inc., Cushman & Wakefield LePage Inc., Pro Hockey Life and Facebook Canada Inc. in connection with the negotiation of their leases.

Acted for Allied Properties REIT in connection with a lease of 168,000 square feet at the CBC Broadcast Center Toronto and in connection with major leases to Sapient Canada Inc., Shopify Inc. and Microsoft, and a construction contract for Allied's Queen Richmond Centre project in Toronto.

Represented The Globe and Mail Inc. in the negotiation of its lease of 130,000 square feet of head office space at 351 King Street East, Toronto.

Selected Speaking Engagements

Speaker, "Drafting the Simplest Guarantee and Indemnity," 2013 Six Minute Commercial Leasing Lawyer, Law Society of Upper Canada.

Speaker and author of article, "The Premises: Current Issuer in Leasing Relevant to Franchising," Lexpert Conference: Franchising - Diving Deep, 2011.

Panellist, "Inferiority Complex – Subleasing Complexities: A Multi-Dimensional Relationship," 2010 Advanced Commercial Leasing Institute, Washington D.C.

Moderator, "Update on Green Leases and Green Buildings: What are the Respective Responsibilities of Tenants and Landlords to Keep a Building Green?" 2010 RealLeasing Conference, Toronto.

Speaker, "Rooftop Solar FIT Projects: Leases and Lender Requirements," Ontario Solar Academy, July 29, 2010.

Discussion Leader, "Green Leases: The Crucial Differences from Conventional Leases," 2009 RealLeasing Conference, Toronto.

Panellist, "Is the Lease Always Greener on the Other Side? – Renewals and New Leases under Green Building Mandates," 2009 Advanced Commercial Leasing Institute, Washington D.C.

Panellist and author of article, "'Taking the LEED' – Going Green in the Lease: Pointers & Pitfalls," 2009 ICSC Canadian Shopping Centre Law Conference, Toronto.

Moderator, "Leasing in a Slowing Economy: Anticipating Tenant Defaults, Bankruptcy and Insolvency," 2008 RealLeasing Conference, Toronto.

Moderator, "Drafting Key Clauses in Leases: Damage and Destruction, Termination, Demolition and Restoration Obligations, Environmental Liabilities," 2007 RealLeasing Conference, Toronto.

Moderator, "Hurricanes, Terrorists, Pandemics and Force Majeure: Understanding the Implications of Damage and Destruction Clauses in Leases," 2006 RealLeasing Conference, Toronto.

Speaker, "Theory and Philosophy of Indemnification Clauses in Leases," 2006 Six Minute Commercial Leasing Lawyer, Law Society of Upper Canada.

Guest Lecturer, "Construction: Issues and Strategy," 2006 and 2005 Faculty of Administrative Studies, York University (Schulich School of Business).

Moderator, "Are Gross and Semi-Gross Leases Coming back in the Office Market?" 2005 RealLeasing Conference, Toronto.

Co-Chair, 2004 RealLeasing Conference, Toronto.

Moderator, "Managing Complex Tenant Deals," 2003 RealLeasing Conference, Toronto.

Panellist, "Tenant Covenant Problems: Avoiding the Traps," 2002 RealLeasing Conference, Toronto.

Selected Publications

Contributor, "Renewals and Extensions of Term," Shopping Centre Leases, Volume 1, 2nd Edition, Canada Law Book (Harvey M. Haber, Editor), 2008.

Education

  • LLB, Osgoode Hall Law School, 1978
  • BA (Hons.), English, McGill University, 1975