Terms: 60 year term: 10/06/2000 to 10/31/2060 (see termination options below)
Current Base Rent: $20,529.17/month
$246,350.04/year
Percentage Rent Formula: Yes
Modified NNN: Tenant pays RE taxes, building insurance, liability insurance, operating expenses, maintenance of parking areas (not capital expenses), maintenance (and replacement) of HVAC, plate glass and interior. Landlord pays for building exterior, parking area capital expenses and structural portions of the building, including the roof.
Debt: Yes
Options: After the initial 20 years of the term, and every five years thereafter, Tenant has the right to terminate the term of the Lease with 6 months prior written notice. Next possible effective date of termination is October 31, 2025.
