What is the term of a typical lease?
How is the rent quoted?
What is the tenant's option for termination or break?
Typically, the tenant does not have the right to terminate the lease.
Does the tenant have the option to renew? What is the length of the typical option?
Yes, 3-5 years
How is the rent determined at renewal?
Fair market, 6 months in advance of lease termination
What is the typical rent-free period, if any?
For a 5-year lease, 3 months
What is the typical rent escalation?
CPI or 2.5% fixed annually
Does the tenant have the right to sublet?