<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-2023-5869
Status: Amended
Governing Jurisdiction: Arkansas

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Haley-Reid Holdings, and the Tenant, Hoffman-Wilson. 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 2023-11-13.

The subject of this lease concerns the Partial unit 21 in Building 9 at the property located at 698 Ferrell Dam Suite 139
Barberville, WY 14524. This Retail facility consists of approximately 17426 rentable square feet and is designated for the purpose of Light manufacturing and assembly and ancillary administrative functions..

The lease commencement is scheduled for 2023-12-23, establishing an initial term of 3 years. The Tenant's monthly obligation for base rent begins at $67,409.58. This figure is scheduled for an annual increase based on a 3.32% escalation rate. A security deposit of $134,819.16 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 60 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.

Late payments of rent will accrue interest at a rate of 15.2% per annum. 

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-2023-5869",
  "parties": {
    "lessor_details": {
      "name": "Haley-Reid Holdings",
      "entity_type": "Limited Partnership",
      "address": "707 Tina Trail\nSampsonberg, MA 04396"
    },
    "lessee_details": {
      "name": "Hoffman-Wilson",
      "entity_type": "LLC",
      "address": "62509 Guzman Village\nWest Patricia, PR 24521"
    }
  },
  "property_details": {
    "address": "698 Ferrell Dam Suite 139\nBarberville, WY 14524",
    "property_type": "Retail",
    "lease_area_description": "Partial unit 21 in Building 9",
    "square_footage_sqft": 17426
  },
  "lease_terms": {
    "effective_date": "2023-11-13",
    "commencement_date": "2023-12-23",
    "initial_term_months": 36,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 60,
        "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": 67409.58,
      "annual_escalation_rate_percent": 3.32,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (10.16%)",
        "estimated_monthly_amount_usd": 10111.44
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (5.84%)",
        "estimated_monthly_amount_usd": 6740.96
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 134819.16,
    "late_payment_interest_rate_percent": 15.2
  },
  "permitted_use": "Light manufacturing and assembly and ancillary administrative functions.",
  "governing_law_state": "Arkansas",
  "document_status": "Amended"
}