<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-2023-4700
Status: Executed
Governing Jurisdiction: Connecticut

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Rios Group Properties, and the Tenant, Sanchez Ltd. 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 2023-08-22.

The subject of this lease concerns the Partial floor 30B in Building 2 at the property located at 72946 James Pass Apt. 867
North Williamberg, DE 49704. This Warehouse facility consists of approximately 3033 rentable square feet and is designated for the purpose of Retail sales of goods and ancillary administrative functions..

The lease commencement is scheduled for 2023-10-04, establishing an initial term of 7 years. The Tenant's monthly obligation for base rent begins at $8,722.40. This figure is scheduled for an annual increase based on a 3.28% escalation rate. A security deposit of $17,444.80 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 60 months with 180 days' prior notice. During any such renewal, the rent will be adjusted according to Fixed 3% annual increase. Any potential sublease of the premises is permitted subject to standard conditions.

Late payments of rent will accrue interest at a rate of 10.8% per annum. Note the existence of a Tenant Early Termination Option clause, which can be triggered with 180 days' notice and involves a penalty structured as 9 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-2023-4700",
  "parties": {
    "lessor_details": {
      "name": "Rios Group Properties",
      "entity_type": "Limited Partnership",
      "address": "292 Douglas Gardens Apt. 248\nEast Jasonview, HI 25533"
    },
    "lessee_details": {
      "name": "Sanchez Ltd",
      "entity_type": "LLC",
      "address": "877 Shaffer Mountains Suite 209\nEdwardsshire, LA 23907"
    }
  },
  "property_details": {
    "address": "72946 James Pass Apt. 867\nNorth Williamberg, DE 49704",
    "property_type": "Warehouse",
    "lease_area_description": "Partial floor 30B in Building 2",
    "square_footage_sqft": 3033
  },
  "lease_terms": {
    "effective_date": "2023-08-22",
    "commencement_date": "2023-10-04",
    "initial_term_months": 84,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 60,
        "renewal_rate_adjustment": "Fixed 3% annual increase",
        "notice_period_days": 180
      }
    ],
    "requires_landlord_consent_for_sublease": false,
    "termination_clauses": [
      {
        "clause_type": "Tenant Early Termination Option",
        "notice_period_days": 180,
        "penalty_details": "9 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 8722.4,
      "annual_escalation_rate_percent": 3.28,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (21.10%)"
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (5.14%)"
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 17444.8,
    "late_payment_interest_rate_percent": 10.8
  },
  "permitted_use": "Retail sales of goods and ancillary administrative functions.",
  "governing_law_state": "Connecticut",
  "document_status": "Executed"
}