<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-2024-2902
Status: Under Review
Governing Jurisdiction: Florida

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Santos Ltd Inc., and the Tenant, Cobb, Diaz and Haynes. 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 2024-06-26.

The subject of this lease concerns the Entire floor 17A in Building 9 at the property located at PSC 2389, Box 4535
APO AE 37512. This Industrial facility consists of approximately 14870 rentable square feet and is designated for the purpose of Retail sales of goods and ancillary administrative functions..

The lease commencement is scheduled for 2024-07-25, establishing an initial term of 3 years. The Tenant's monthly obligation for base rent begins at $47,893.79. This figure is scheduled for an annual increase based on a 1.9% escalation rate. A security deposit of $47,893.79 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 Fixed 3% annual increase. 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-2024-2902",
  "parties": {
    "lessor_details": {
      "name": "Santos Ltd Inc.",
      "entity_type": "LLC"
    },
    "lessee_details": {
      "name": "Cobb, Diaz and Haynes",
      "entity_type": "Corporation",
      "address": "4775 Smith Meadows Apt. 991\nEast Matthew, WI 90986"
    }
  },
  "property_details": {
    "address": "PSC 2389, Box 4535\nAPO AE 37512",
    "property_type": "Industrial",
    "lease_area_description": "Entire floor 17A in Building 9",
    "square_footage_sqft": 14870
  },
  "lease_terms": {
    "effective_date": "2024-06-26",
    "commencement_date": "2024-07-25",
    "initial_term_months": 36,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 60,
        "renewal_rate_adjustment": "Fixed 3% annual increase"
      }
    ],
    "requires_landlord_consent_for_sublease": true
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 47893.79,
      "annual_escalation_rate_percent": 1.9,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (6.45%)",
        "estimated_monthly_amount_usd": 7184.07
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (20.17%)",
        "estimated_monthly_amount_usd": 4789.38
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 47893.79
  },
  "permitted_use": "Retail sales of goods and ancillary administrative functions.",
  "governing_law_state": "Florida",
  "document_status": "Under Review"
}