<format type="json">{lease_id: string, parties: {lessor_details: {name: string, entity_type: string, address: string optional}, lessee_details: {name: string, entity_type: string, address: string optional}}, property_details: {address: string, property_type: string, square_footage_sqft: number optional, lease_area_description: string}, lease_terms: {effective_date: date, commencement_date: date, initial_term_months: number, option_to_renew: list[{option_number: number, duration_months: number, notice_period_days: number optional, renewal_rate_adjustment: string}], termination_clauses: list[{clause_type: string, notice_period_days: number, penalty_details: string}] optional, requires_landlord_consent_for_sublease: boolean}, financial_terms: {base_rent_details: {initial_monthly_rent_usd: number, annual_escalation_rate_percent: number, escalation_frequency: string}, additional_rent_components: list[{component_name: string, basis: string, estimated_monthly_amount_usd: number optional}], security_deposit_usd: number, late_payment_interest_rate_percent: number optional}, insurance_requirements: list[{coverage_type: string, minimum_coverage_amount_usd: number, named_insureds_required: list[string]}] optional, permitted_use: string, governing_law_state: string, document_status: string}</format> <data>INTERNAL MEMORANDUM - LEASE ABSTRACT

Reference ID: LSE-COM-2023-3939
Status: Executed
Governing Jurisdiction: Pennsylvania

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Wolfe-Jones Ventures, and the Tenant, Robinson Group. The team is preparing for the quarterly portfolio review next month, so please ensure all financial models are updated with this data. The lease agreement was made effective as of 2023-10-03.

The subject of this lease concerns the Partial suite 37B in Building 1 at the property located at 65484 Webster Ports Suite 073
West Michael, ID 47073. This Retail facility consists of approximately 42409 rentable square feet and is designated for the purpose of Professional services and ancillary administrative functions..

The lease commencement is scheduled for 2023-11-19, establishing an initial term of 10 years. The Tenant's monthly obligation for base rent begins at $111,358.97. This figure is scheduled for an annual increase based on a 2.88% escalation rate. A security deposit of $222,717.94 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 36 months with 90 days' prior notice. During any such renewal, the rent will be adjusted according to Fair Market Value. Any potential sublease of the premises requires Landlord's explicit consent.

Note the existence of a Co-tenancy Failure clause, which can be triggered with 60 days' notice and involves a penalty structured as 8 months' rent plus unamortized transaction costs.

Additional rent provisions for pass-throughs like Operating Expenses and Property Taxes are based on the tenant's pro rata share. Further details can be found in the full agreement document stored in the central repository. Please complete your review by end of week.</data>
{
  "lease_id": "LSE-COM-2023-3939",
  "parties": {
    "lessor_details": {
      "name": "Wolfe-Jones Ventures",
      "entity_type": "Limited Partnership",
      "address": "07904 Reyes Drives\nGouldshire, IL 01678"
    },
    "lessee_details": {
      "name": "Robinson Group",
      "entity_type": "Corporation",
      "address": "56879 Daniel Center Apt. 109\nBakershire, TX 85934"
    }
  },
  "property_details": {
    "address": "65484 Webster Ports Suite 073\nWest Michael, ID 47073",
    "property_type": "Retail",
    "lease_area_description": "Partial suite 37B in Building 1",
    "square_footage_sqft": 42409
  },
  "lease_terms": {
    "effective_date": "2023-10-03",
    "commencement_date": "2023-11-19",
    "initial_term_months": 120,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 36,
        "renewal_rate_adjustment": "Fair Market Value",
        "notice_period_days": 90
      }
    ],
    "requires_landlord_consent_for_sublease": true,
    "termination_clauses": [
      {
        "clause_type": "Co-tenancy Failure",
        "notice_period_days": 60,
        "penalty_details": "8 months' rent plus unamortized transaction costs."
      },
      {
        "clause_type": "Landlord Recapture Right",
        "notice_period_days": 90,
        "penalty_details": "3 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 111358.97,
      "annual_escalation_rate_percent": 2.88,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (12.07%)",
        "estimated_monthly_amount_usd": 16703.85
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (13.04%)",
        "estimated_monthly_amount_usd": 11135.9
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 222717.94
  },
  "permitted_use": "Professional services and ancillary administrative functions.",
  "governing_law_state": "Pennsylvania",
  "document_status": "Executed"
}