<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-2023-2076
Status: Under Review
Governing Jurisdiction: Oregon

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Alexander, Thompson and Martinez Properties, and the Tenant, Morales, Parker and Burke. 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 2023-09-03.

The subject of this lease concerns the Partial floor 11 in Building 5 at the property located at 767 Henderson Dale
South Kimberly, ME 95499. This Retail facility consists of approximately 37525 rentable square feet and is designated for the purpose of General office and ancillary administrative functions..

The lease commencement is scheduled for 2023-10-19, establishing an initial term of 7 years. The Tenant's monthly obligation for base rent begins at $183,278.35. This figure is scheduled for an annual increase based on a 3.94% escalation rate. A security deposit of $183,278.35 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 36 months with 270 days' prior notice. During any such renewal, the rent will be adjusted according to Greater of Fair Market Value or previous rent + 3%. Any potential sublease of the premises requires Landlord's explicit consent.



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-2023-2076",
  "parties": {
    "lessor_details": {
      "name": "Alexander, Thompson and Martinez Properties",
      "entity_type": "LLC",
      "address": "USNV Santos\nFPO AE 10150"
    },
    "lessee_details": {
      "name": "Morales, Parker and Burke",
      "entity_type": "S-Corp"
    }
  },
  "property_details": {
    "address": "767 Henderson Dale\nSouth Kimberly, ME 95499",
    "property_type": "Retail",
    "lease_area_description": "Partial floor 11 in Building 5",
    "square_footage_sqft": 37525
  },
  "lease_terms": {
    "effective_date": "2023-09-03",
    "commencement_date": "2023-10-19",
    "initial_term_months": 84,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 36,
        "renewal_rate_adjustment": "Greater of Fair Market Value or previous rent + 3%",
        "notice_period_days": 270
      }
    ],
    "requires_landlord_consent_for_sublease": true
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 183278.35,
      "annual_escalation_rate_percent": 3.94,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (14.24%)",
        "estimated_monthly_amount_usd": 27491.75
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (5.82%)",
        "estimated_monthly_amount_usd": 18327.84
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 183278.35
  },
  "permitted_use": "General office and ancillary administrative functions.",
  "governing_law_state": "Oregon",
  "document_status": "Under Review"
}