What is the term of a typical lease?
How is the rent quoted?
Full service gross annual
What is the tenant's option for termination or break?
Typically, the tenant has the right to terminate the lease with 6 months’ notice.
Does the tenant have the option to renew? What is the length of the typical option?
Typically, the tenant has the right to renew, with an average length of 3-5 years.
How is the rent determined at renewal?
Typically, rents are determined by market rent at renewal and are generally negotiated 3 to 6 months in advance of lease expiration.
What is the typical rent-free period, if any?
What is the typical rent escalation?
2% annual escalations
Does the tenant have the right to sublet?
Yes, with landlord approval