<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-2024-2162
Status: Under Review
Governing Jurisdiction: New Hampshire

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Mann-Drake Holdings, and the Tenant, Small, Mejia and Mendoza. 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 2024-04-26.

The subject of this lease concerns the Entire unit 46 in Building 3 at the property located at 04193 Victoria Vista
Kellyshire, VT 07874. This Industrial facility consists of approximately 44952 rentable square feet and is designated for the purpose of Professional services and ancillary administrative functions..

The lease commencement is scheduled for 2024-06-02, establishing an initial term of 3 years. The Tenant's monthly obligation for base rent begins at $205,468.10. This figure is scheduled for an annual increase based on a 2.32% escalation rate. A security deposit of $205,468.10 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 CPI-U Adjustment, not to exceed 4%. 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-2024-2162",
  "parties": {
    "lessor_details": {
      "name": "Mann-Drake Holdings",
      "entity_type": "Corporation"
    },
    "lessee_details": {
      "name": "Small, Mejia and Mendoza",
      "entity_type": "S-Corp",
      "address": "02165 Jones Drive Apt. 868\nPort Jennifershire, AR 47680"
    }
  },
  "property_details": {
    "address": "04193 Victoria Vista\nKellyshire, VT 07874",
    "property_type": "Industrial",
    "lease_area_description": "Entire unit 46 in Building 3",
    "square_footage_sqft": 44952
  },
  "lease_terms": {
    "effective_date": "2024-04-26",
    "commencement_date": "2024-06-02",
    "initial_term_months": 36,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 36,
        "renewal_rate_adjustment": "CPI-U Adjustment, not to exceed 4%",
        "notice_period_days": 270
      }
    ],
    "requires_landlord_consent_for_sublease": false
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 205468.1,
      "annual_escalation_rate_percent": 2.32,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (15.30%)"
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (13.84%)"
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 205468.1
  },
  "permitted_use": "Professional services and ancillary administrative functions.",
  "governing_law_state": "New Hampshire",
  "document_status": "Under Review"
}