<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-2024-3470
Status: Amended
Governing Jurisdiction: South Dakota

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Luna Group Ventures, and the Tenant, Lang, Brown and Sanders. 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 2024-01-09.

The subject of this lease concerns the Entire suite 20A in Building 5 at the property located at 82609 Bowman Trafficway Suite 739
West Daniel, GA 29517. This Office facility consists of approximately 21754 rentable square feet and is designated for the purpose of General office and ancillary administrative functions..

The lease commencement is scheduled for 2024-02-07, establishing an initial term of 7 years. The Tenant's monthly obligation for base rent begins at $30,945.07. This figure is scheduled for an annual increase based on a 4.0% escalation rate. A security deposit of $61,890.14 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 36 months. 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.



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-2024-3470",
  "parties": {
    "lessor_details": {
      "name": "Luna Group Ventures",
      "entity_type": "LLC"
    },
    "lessee_details": {
      "name": "Lang, Brown and Sanders",
      "entity_type": "Corporation"
    }
  },
  "property_details": {
    "address": "82609 Bowman Trafficway Suite 739\nWest Daniel, GA 29517",
    "property_type": "Office",
    "lease_area_description": "Entire suite 20A in Building 5",
    "square_footage_sqft": 21754
  },
  "lease_terms": {
    "effective_date": "2024-01-09",
    "commencement_date": "2024-02-07",
    "initial_term_months": 84,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 36,
        "renewal_rate_adjustment": "Fixed 3% annual increase"
      }
    ],
    "requires_landlord_consent_for_sublease": false
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 30945.07,
      "annual_escalation_rate_percent": 4.0,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (13.82%)",
        "estimated_monthly_amount_usd": 4641.76
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (14.92%)",
        "estimated_monthly_amount_usd": 3094.51
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 61890.14
  },
  "permitted_use": "General office and ancillary administrative functions.",
  "governing_law_state": "South Dakota",
  "document_status": "Amended"
}