Arizona Percentage Shopping Center Lease Agreement

• Category: Landlord Tenant - Commercial Leases - Shopping Centers
• State: Multi-State
• Control #: US-01626
• Format: Word; Rich Text

Description

This form is for the lease of property to be used as a shopping center. The landlord warrants that the demised premises may be used, but not limited to such use, by tenant, among others, for the conduct of a mercantile business of the type and kind known as a variety store, discount store, dollar store or variety discount store. The Arizona Percentage Shopping Center Lease Agreement is a legally binding contract that outlines the rights and responsibilities of both tenants and landlords in renting retail space within a shopping center in Arizona. This lease agreement is specifically designed for shopping centers with multiple retail units and is based on a percentage rent structure. In this lease agreement, the tenant agrees to pay a percentage of their gross sales as rent, in addition to a base rent amount. The percentage rent is calculated by multiplying the tenant's gross sales with a predetermined percentage specified in the lease agreement. This payment structure allows landlords to benefit from the success of their tenants by sharing in their profitability. The agreement includes various sections that are essential for protecting the interests of both parties. These sections cover the duration of the lease, rent payment details, maintenance responsibilities, tenant improvements, common area maintenance charges, utilities, insurance obligations, permitted use of the premises, and termination conditions. Additionally, it may include provisions regarding signage, competition clauses, parking, renewal options, and dispute resolution procedures. There are different types of Arizona Percentage Shopping Center Lease Agreements that may vary depending on the specific terms and conditions agreed upon by the parties involved. These types can be differentiated based on the duration of the lease, such as short-term and long-term leases, and may also include provisions for rent escalations or rent reductions over time. Some common variations of the Percentage Shopping Center Lease Agreement are: 1. Gross Sales Percentage Lease: This type of lease agreement requires the tenant to pay a certain percentage of their gross sales as rent, without any base rent. The percentage is usually higher compared to agreements that include both a base rent and a percentage rent. 2. Base Rent Plus Percentage Lease: This lease agreement combines a base rent amount and a percentage of gross sales as rent. The base rent provides a guaranteed income for the landlord, while the percentage rent allows for additional income based on the tenant's success. 3. Step-Up Percentage Lease: This type of lease agreement includes pre-determined increases in the percentage rent over a specified period. The percentage rent gradually escalates, encouraging the tenant's growth and rewarding the landlord for their support. It is essential for both the landlord and tenant to carefully review and negotiate the terms of the Arizona Percentage Shopping Center Lease Agreement to ensure clarity and fairness. Seeking legal counsel is highly recommended ensuring compliance with Arizona state laws and to protect the interests of all parties involved.

The Arizona Percentage Shopping Center Lease Agreement is a legally binding contract that outlines the rights and responsibilities of both tenants and landlords in renting retail space within a shopping center in Arizona. This lease agreement is specifically designed for shopping centers with multiple retail units and is based on a percentage rent structure. In this lease agreement, the tenant agrees to pay a percentage of their gross sales as rent, in addition to a base rent amount. The percentage rent is calculated by multiplying the tenant's gross sales with a predetermined percentage specified in the lease agreement. This payment structure allows landlords to benefit from the success of their tenants by sharing in their profitability. The agreement includes various sections that are essential for protecting the interests of both parties. These sections cover the duration of the lease, rent payment details, maintenance responsibilities, tenant improvements, common area maintenance charges, utilities, insurance obligations, permitted use of the premises, and termination conditions. Additionally, it may include provisions regarding signage, competition clauses, parking, renewal options, and dispute resolution procedures. There are different types of Arizona Percentage Shopping Center Lease Agreements that may vary depending on the specific terms and conditions agreed upon by the parties involved. These types can be differentiated based on the duration of the lease, such as short-term and long-term leases, and may also include provisions for rent escalations or rent reductions over time. Some common variations of the Percentage Shopping Center Lease Agreement are: 1. Gross Sales Percentage Lease: This type of lease agreement requires the tenant to pay a certain percentage of their gross sales as rent, without any base rent. The percentage is usually higher compared to agreements that include both a base rent and a percentage rent. 2. Base Rent Plus Percentage Lease: This lease agreement combines a base rent amount and a percentage of gross sales as rent. The base rent provides a guaranteed income for the landlord, while the percentage rent allows for additional income based on the tenant's success. 3. Step-Up Percentage Lease: This type of lease agreement includes pre-determined increases in the percentage rent over a specified period. The percentage rent gradually escalates, encouraging the tenant's growth and rewarding the landlord for their support. It is essential for both the landlord and tenant to carefully review and negotiate the terms of the Arizona Percentage Shopping Center Lease Agreement to ensure clarity and fairness. Seeking legal counsel is highly recommended ensuring compliance with Arizona state laws and to protect the interests of all parties involved.