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Commercial Lease Option to Expand

Book Publication Date: Nov 2013
Description: Certain businesses may want to retain the right to expand their leased space into adjacent space when business is good. To accommodate this an option to expand can be included in the lease. This sample option to expand provides the tenant with a right of first offer to expansion space adjacent to the leased premises.
Type: Contract Clauses
PLI Item #: 60628
Practice Area: Commercial leases, Real estate, Real estate leasing

Keywords: "real estate"; "commercial real estate" landlord; tenant; lease; "option to expand"; "expansion option"; "leased premises"; "expansion space"; "right of first offer"

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