Contracts

AI Summary

A commercial office lease for 4,200 sq ft in San Francisco's financial district. The lease has a 5-year initial term with two 3-year renewal options. The tenant is responsible for pro-rata share of operating expenses (NNN structure) with a cap on controllable expense increases. Key risks include a personal guarantee requirement, a landlord-friendly force majeure clause, and a strict assignment restriction that could complicate future M&A activity.

Type: Commercial Office Lease

Key Terms

Lease Term

5 years (Jan 2024 – Dec 2028)

Monthly Rent

$42,000 (Year 1), 3% escalation annually

Space

4,200 sq ft, Suite 1800

Security Deposit

$126,000 (3 months)

Renewal Options

2 × 3-year options at market rate

TI Allowance

$75 per sq ft ($315,000 total)

Parties & Dates