<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-2024-3221
Status: Executed
Governing Jurisdiction: New York

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Adams-Smith Ventures, and the Tenant, Jimenez Inc. 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 2024-06-09.

The subject of this lease concerns the Entire floor 18 in Building 10 at the property located at 482 Mann Orchard
Millerstad, MA 22458. This Office facility consists of approximately 40817 rentable square feet and is designated for the purpose of Professional services and ancillary administrative functions..

The lease commencement is scheduled for 2024-06-27, establishing an initial term of 10 years. The Tenant's monthly obligation for base rent begins at $118,947.54. This figure is scheduled for an annual increase based on a 4.0% escalation rate. A security deposit of $237,895.08 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-2024-3221",
  "parties": {
    "lessor_details": {
      "name": "Adams-Smith Ventures",
      "entity_type": "Corporation"
    },
    "lessee_details": {
      "name": "Jimenez Inc",
      "entity_type": "Corporation",
      "address": "820 Michael Expressway Suite 547\nEast Mallory, VI 24812"
    }
  },
  "property_details": {
    "address": "482 Mann Orchard\nMillerstad, MA 22458",
    "property_type": "Office",
    "lease_area_description": "Entire floor 18 in Building 10",
    "square_footage_sqft": 40817
  },
  "lease_terms": {
    "effective_date": "2024-06-09",
    "commencement_date": "2024-06-27",
    "initial_term_months": 120,
    "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": 118947.54,
      "annual_escalation_rate_percent": 4.0,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (24.48%)",
        "estimated_monthly_amount_usd": 17842.13
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (12.93%)",
        "estimated_monthly_amount_usd": 11894.75
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 237895.08
  },
  "permitted_use": "Professional services and ancillary administrative functions.",
  "governing_law_state": "New York",
  "document_status": "Executed"
}