<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-2024-1561
Status: Under Review
Governing Jurisdiction: North Carolina

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Graham Ltd Holdings, and the Tenant, Griffin, Sherman and Carter. 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 2024-01-15.

The subject of this lease concerns the Partial suite 25A in Building 6 at the property located at 230 Diane Shoals
Boothton, CO 24236. This Office facility consists of approximately 48152 rentable square feet and is designated for the purpose of General office and ancillary administrative functions..

The lease commencement is scheduled for 2024-03-15, establishing an initial term of 5 years. The Tenant's monthly obligation for base rent begins at $194,132.81. This figure is scheduled for an annual increase based on a 4.0% escalation rate. A security deposit of $388,265.62 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 60 months. During any such renewal, the rent will be adjusted according to Fair Market Value. Any potential sublease of the premises is permitted subject to standard conditions.

Late payments of rent will accrue interest at a rate of 5.9% per annum. 

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-2024-1561",
  "parties": {
    "lessor_details": {
      "name": "Graham Ltd Holdings",
      "entity_type": "Limited Partnership",
      "address": "0021 Reyes Bridge Apt. 928\nNorth Gina, OR 83857"
    },
    "lessee_details": {
      "name": "Griffin, Sherman and Carter",
      "entity_type": "LLC",
      "address": "72946 Steven Underpass Suite 579\nSouth Sydneyton, ME 15247"
    }
  },
  "property_details": {
    "address": "230 Diane Shoals\nBoothton, CO 24236",
    "property_type": "Office",
    "lease_area_description": "Partial suite 25A in Building 6",
    "square_footage_sqft": 48152
  },
  "lease_terms": {
    "effective_date": "2024-01-15",
    "commencement_date": "2024-03-15",
    "initial_term_months": 60,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 60,
        "renewal_rate_adjustment": "Fair Market Value"
      },
      {
        "option_number": 2,
        "duration_months": 60,
        "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": 194132.81,
      "annual_escalation_rate_percent": 4.0,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (13.27%)",
        "estimated_monthly_amount_usd": 29119.92
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (19.16%)",
        "estimated_monthly_amount_usd": 19413.28
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 388265.62,
    "late_payment_interest_rate_percent": 5.9
  },
  "permitted_use": "General office and ancillary administrative functions.",
  "governing_law_state": "North Carolina",
  "document_status": "Under Review"
}