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Commercial Lease

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Transform commercial lease agreements into structured data for lease administration, accounting, and portfolio management. Extract base rent, CAM/NNN charges, escalations, options, TI allowances, and operating expense structures from office, retail, and industrial lease agreements.

commercial-lease.pdf

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lease_id

CL-2024-78901

execution_date

2024-07-15

landlord_name

Metro Commercial Partners LLC

landlord_address

500 Corporate Center Drive, Suite 100, Chicago, IL 60601

tenant_name

TechStart Solutions Inc.

tenant_trade_name

TechStart

guarantor

None - Corporate Lease

property_name

Metro Business Center

property_address

750 Innovation Way, Suite 400, Chicago, IL 60602

premises_type

Office

rentable_sqft

8500

usable_sqft

7650

load_factor

1.11

floor

suite

400

commencement_date

2024-10-01

rent_commencement_date

2025-01-01

expiration_date

2029-09-30

term_months

base_rent

year_1: {"annual":238000,"monthly":19833.33,"psf":28}, year_2: {"annual":245140,"monthly":20428.33,"psf":28.84}, year_3: {"annual":252494,"monthly":21041.17,"psf":29.7}, year_4: {"annual":260069,"monthly":21672.42,"psf":30.6}, year_5: {"annual":267871,"monthly":22322.58,"psf":31.51}

rent_escalation

3% annually

lease_type

Modified Gross

operating_expenses

base_year: 2024, base_year_amount_psf: 12.5, tenant_share_percent: 4.25, cap_percent: 5, estimate_monthly: 1062.5

cam_charges

included_in_opex: true, controllable_cap: true

security_deposit

59500

tenant_improvement_allowance

amount: 340000, psf: 40, deadline: 2025-03-31

free_rent_months

free_rent_period

October 2024 - December 2024

parking

spaces: 25, ratio: 3.0 per 1,000 SF, monthly_cost_per_space: 150, reserved_spaces: 5

Renewal_options

1 item

term_years

notice_months

rent_basis

Fair Market Value with 95% floor

expansion_option

sqft: 4000, location: Suite 450, notice_months: 6

termination_option

effective_date: 2027-09-30, notice_months: 9, fee: 119000

permitted_use

General office and software development

insurance_requirements

general_liability: 2000000, property_coverage: Full replacement, workers_comp: Statutory

signage_rights

Building standard directory and suite entry

governing_law

Illinois

notes

Tenant taking space as-is with TI allowance for buildout.

{ "lease_id": "CL-2024-78901", "execution_date": "2024-07-15", "landlord_name": "Metro Commercial Partners LLC", "landlord_address": "500 Corporate Center Drive, Suite 100, Chicago, IL 60601", "tenant_name": "TechStart Solutions Inc.", "tenant_trade_name": "TechStart", "guarantor": "None - Corporate Lease", "property_name": "Metro Business Center", "property_address": "750 Innovation Way, Suite 400, Chicago, IL 60602", "premises_type": "Office", "rentable_sqft": 8500, "usable_sqft": 7650, "load_factor": 1.11, "floor": 4, "suite": "400", "commencement_date": "2024-10-01", "rent_commencement_date": "2025-01-01", "expiration_date": "2029-09-30", "term_months": 60, "base_rent": { "year_1": { "annual": 238000, "monthly": 19833.33, "psf": 28 }, "year_2": { "annual": 245140, "monthly": 20428.33, "psf": 28.84 }, "year_3": { "annual": 252494, "monthly": 21041.17, "psf": 29.7 }, "year_4": { "annual": 260069, "monthly": 21672.42, "psf": 30.6 }, "year_5": { "annual": 267871, "monthly": 22322.58, "psf": 31.51 } }, "rent_escalation": "3% annually", "lease_type": "Modified Gross", "operating_expenses": { "base_year": 2024, "base_year_amount_psf": 12.5, "tenant_share_percent": 4.25, "cap_percent": 5, "estimate_monthly": 1062.5 }, "cam_charges": { "included_in_opex": true, "controllable_cap": true }, "security_deposit": 59500, "tenant_improvement_allowance": { "amount": 340000, "psf": 40, "deadline": "2025-03-31"}, "free_rent_months": 3, "free_rent_period": "October 2024 - December 2024", "parking": { "spaces": 25, "ratio": "3.0 per 1,000 SF", "monthly_cost_per_space": 150, "reserved_spaces": 5 }, "renewal_options": [ { "term_years": 5, "notice_months": 12, "rent_basis": "Fair Market Value with 95% floor"} ], "expansion_option": { "sqft": 4000, "location": "Suite 450", "notice_months": 6 }, "termination_option": { "effective_date": "2027-09-30", "notice_months": 9, "fee": 119000 }, "permitted_use": "General office and software development", "insurance_requirements": { "general_liability": 2000000, "property_coverage": "Full replacement", "workers_comp": "Statutory"}, "signage_rights": "Building standard directory and suite entry", "governing_law": "Illinois", "notes": "Tenant taking space as-is with TI allowance for buildout."}