Commercial Office Real Estate Term Sheet

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Prepared for: [YOUR COMPANY NAME]
Date: August 30, 2060

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1. Property Details

• Property Address: New York, NY 10001

• Building Name: Supreme Tower

• Floor/Suite: Suite 567

• Total Square Footage: 10,000 sq. ft.

• Building Class: Class A

• Year Built: 2050

• Parking: 100 dedicated parking spaces; Additional spaces available upon request

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2. Lease Terms

• Lease Commencement Date: January 1, 2061

• Lease Term: 10 years

• Base Rent: $50.00 per sq. ft. per annum

• Rent Escalation: 3% per annum

• Rentable Square Footage (RSF): 10,000 sq. ft.

• Usable Square Footage (USF): 9,000 sq. ft.

• Security Deposit: Three months' base rent

• Tenant Improvement Allowance (TIA): $100 per sq. ft.

• Renewal Options: One (1) option to renew for 5 years at market rate

• Termination Option: Termination after year 5 with 12 months' notice and a termination fee equivalent to six months' rent

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3. Operating Expenses

• Common Area Maintenance (CAM) Charges: Estimated at $8.00 per sq. ft. per annum

• Real Estate Taxes: Included in CAM charges

• Insurance: Pro rata share included in CAM charges

• Utilities: Separately metered and billed directly to Tenant

• Maintenance and Repairs: Landlord responsible for structural repairs; Tenant responsible for non-structural repairs within the leased premises

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4. Use and Occupancy

• Permitted Use: General office use, professional services

• Hours of Operation: Monday-Friday: 8:00 AM - 6:00 PM; Saturday: 9:00 AM - 1:00 PM

• Subletting/Assignment: Allowed with Landlord's prior written consent

• Signage: Building standard signage provided by Landlord

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5. Insurance Requirements

Tenant's Insurance:

• Commercial General Liability: Minimum $2,000,000 per occurrence

• Property Insurance: Covering Tenant's improvements and personal property

• Workers' Compensation Insurance: As required by law

• Additional Insured: Landlord to be named as additional insured on all policies

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6. Legal and Financial Terms

• Governing Law: State of New York, USA

• Brokerage Commissions: Landlord to pay commissions to [Broker Name], equivalent to 5% of the total lease value

• Attorneys' Fees: Each party shall bear its own legal costs and fees

• Confidentiality: Both parties agree to maintain the confidentiality of this Term Sheet and related negotiations

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7. Miscellaneous Provisions

• Force Majeure: Neither party shall be liable for delays or failure to perform due to causes beyond their reasonable control

• Access to Premises: Landlord shall have access to the premises upon reasonable notice for inspection, maintenance, or repairs

• Environmental Compliance: The premises must comply with all applicable environmental laws and regulations

• Estoppel Certificates: Tenant agrees to provide estoppel certificates within 15 days of request by Landlord

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