<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-2024-6432
Status: Executed
Governing Jurisdiction: Ohio

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Jones, Pollard and Schneider Inc., and the Tenant, Greene PLC. 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 2024-04-30.

The subject of this lease concerns the Partial suite 30 in Building 3 at the property located at 0765 Brooke Land Apt. 725
Lake Victorview, PW 03041. This Industrial facility consists of approximately 29169 rentable square feet and is designated for the purpose of Light manufacturing and assembly and ancillary administrative functions..

The lease commencement is scheduled for 2024-05-18, establishing an initial term of 10 years. The Tenant's monthly obligation for base rent begins at $131,454.96. This figure is scheduled for an annual increase based on a 2.39% escalation rate. A security deposit of $262,909.92 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 24 months. During any such renewal, the rent will be adjusted according to CPI-U Adjustment, not to exceed 4%. Any potential sublease of the premises is permitted subject to standard conditions.



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-2024-6432",
  "parties": {
    "lessor_details": {
      "name": "Jones, Pollard and Schneider Inc.",
      "entity_type": "Corporation"
    },
    "lessee_details": {
      "name": "Greene PLC",
      "entity_type": "S-Corp",
      "address": "078 Owen Locks Suite 862\nMaryfort, AL 22873"
    }
  },
  "property_details": {
    "address": "0765 Brooke Land Apt. 725\nLake Victorview, PW 03041",
    "property_type": "Industrial",
    "lease_area_description": "Partial suite 30 in Building 3",
    "square_footage_sqft": 29169
  },
  "lease_terms": {
    "effective_date": "2024-04-30",
    "commencement_date": "2024-05-18",
    "initial_term_months": 120,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 24,
        "renewal_rate_adjustment": "CPI-U Adjustment, not to exceed 4%"
      },
      {
        "option_number": 2,
        "duration_months": 24,
        "renewal_rate_adjustment": "Greater of Fair Market Value or previous rent + 3%"
      }
    ],
    "requires_landlord_consent_for_sublease": false
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 131454.96,
      "annual_escalation_rate_percent": 2.39,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (24.27%)",
        "estimated_monthly_amount_usd": 19718.24
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (7.32%)",
        "estimated_monthly_amount_usd": 13145.5
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 262909.92
  },
  "permitted_use": "Light manufacturing and assembly and ancillary administrative functions.",
  "governing_law_state": "Ohio",
  "document_status": "Executed"
}