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Right of First Refusal to Lease Additional Space

Book Publication Date: Nov 2013
Description: A tenant may be able to retain the right of first refusal to the lease of any contiguous space to their leased premises. This gives the tenant the option to expand if they want to and the opportunity arises. This sample clause provides that the landlord will give notice to the tenant if contiguous space becomes available.
Type: Contract Clauses
PLI Item #: 60633
Practice Area: Commercial leases, Real estate, Real estate leasing

Keywords: "real estate"; "commercial real estate" landlord; tenant; lease; "right of first refusal"; "lease additional space"; "contiguous expansion space"; "written notice"

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