<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-2024-8142
Status: Executed
Governing Jurisdiction: Ohio

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Reed, Brewer and Anderson Properties, and the Tenant, Nguyen, Moyer and Sherman. 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 2024-02-13.

The subject of this lease concerns the Partial suite 4B in Building 3 at the property located at 3949 Dominguez Square
New Nicholasmouth, TX 22579. This Warehouse facility consists of approximately 38612 rentable square feet and is designated for the purpose of Professional services and ancillary administrative functions..

The lease commencement is scheduled for 2024-02-13, establishing an initial term of 10 years. The Tenant's monthly obligation for base rent begins at $149,203.20. This figure is scheduled for an annual increase based on a 4.0% escalation rate. A security deposit of $298,406.40 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.

Late payments of rent will accrue interest at a rate of 11.8% per annum. Note the existence of a Landlord Recapture Right clause, which can be triggered with 60 days' notice and involves a penalty structured as 11 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-2024-8142",
  "parties": {
    "lessor_details": {
      "name": "Reed, Brewer and Anderson Properties",
      "entity_type": "Corporation",
      "address": "44450 Michael Shoal Suite 331\nNorth Heatherburgh, ME 12127"
    },
    "lessee_details": {
      "name": "Nguyen, Moyer and Sherman",
      "entity_type": "S-Corp",
      "address": "4744 Harris Prairie\nJamesburgh, GU 84113"
    }
  },
  "property_details": {
    "address": "3949 Dominguez Square\nNew Nicholasmouth, TX 22579",
    "property_type": "Warehouse",
    "lease_area_description": "Partial suite 4B in Building 3",
    "square_footage_sqft": 38612
  },
  "lease_terms": {
    "effective_date": "2024-02-13",
    "commencement_date": "2024-02-13",
    "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": "Fair Market Value"
      }
    ],
    "requires_landlord_consent_for_sublease": false,
    "termination_clauses": [
      {
        "clause_type": "Landlord Recapture Right",
        "notice_period_days": 60,
        "penalty_details": "11 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 149203.2,
      "annual_escalation_rate_percent": 4.0,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (25.0%)",
        "estimated_monthly_amount_usd": 22380.48
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (14.71%)",
        "estimated_monthly_amount_usd": 14920.32
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 298406.4,
    "late_payment_interest_rate_percent": 11.8
  },
  "permitted_use": "Professional services and ancillary administrative functions.",
  "governing_law_state": "Ohio",
  "document_status": "Executed"
}