Oregon 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 Oregon Percentage Shopping Center Lease Agreement is a legally binding contract that outlines the terms and conditions between a landlord and a tenant for leasing a space in a shopping center in the state of Oregon. This agreement is specifically designed for retail businesses or individuals looking to establish their presence in a shopping center. The main feature of the Oregon Percentage Shopping Center Lease Agreement is the inclusion of a percentage rent provision. This provision allows the landlord to receive a percentage of the tenant's gross sales in addition to the base rent. It is a unique characteristic of this lease agreement and is often seen as an attractive option for both landlords and tenants. Key terms and provisions typically included in an Oregon Percentage Shopping Center Lease Agreement include: 1. Rent Structure: The agreement specifies the base rent amount and the percentage of gross sales that will be paid as additional rent. 2. Tenant's Responsibilities: The tenant is usually responsible for maintaining and repairing the leased premises, as well as paying for utilities, insurance, property taxes, and any common area maintenance fees. 3. Landlord's Responsibilities: The landlord is responsible for maintaining common areas, providing security, and ensuring that the shopping center is well-maintained and meets local regulations. 4. Lease Term: The agreement specifies the duration of the lease, including the start and end date, as well as any options for renewal. 5. Tenant Improvements: If necessary, the agreement may outline the improvements or modifications the tenant is allowed to make to the leased premises, subject to landlord approval. Types of Oregon Percentage Shopping Center Lease Agreements: 1. Single-Tenant Lease Agreement: This type of lease agreement involves a single tenant leasing a standalone space within a shopping center. The percentage rent provision is applicable to this type of lease. 2. Multi-Tenant Lease Agreement: In this scenario, multiple tenants lease separate units within the same shopping center. Each tenant pays a base rent and a percentage rent based on their individual gross sales. 3. Anchor Tenant Lease Agreement: An anchor tenant is a large, well-known retailer that attracts significant foot traffic to the shopping center. This lease agreement is specific to these anchor tenants and may include additional provisions regarding exclusivity, parking spaces, and advertising. It is important for both landlords and tenants to carefully review and negotiate the terms of the Oregon Percentage Shopping Center Lease Agreement to ensure that their rights and obligations are clearly defined. Seeking legal advice before signing the agreement is highly recommended protecting the interests of both parties involved.

The Oregon Percentage Shopping Center Lease Agreement is a legally binding contract that outlines the terms and conditions between a landlord and a tenant for leasing a space in a shopping center in the state of Oregon. This agreement is specifically designed for retail businesses or individuals looking to establish their presence in a shopping center. The main feature of the Oregon Percentage Shopping Center Lease Agreement is the inclusion of a percentage rent provision. This provision allows the landlord to receive a percentage of the tenant's gross sales in addition to the base rent. It is a unique characteristic of this lease agreement and is often seen as an attractive option for both landlords and tenants. Key terms and provisions typically included in an Oregon Percentage Shopping Center Lease Agreement include: 1. Rent Structure: The agreement specifies the base rent amount and the percentage of gross sales that will be paid as additional rent. 2. Tenant's Responsibilities: The tenant is usually responsible for maintaining and repairing the leased premises, as well as paying for utilities, insurance, property taxes, and any common area maintenance fees. 3. Landlord's Responsibilities: The landlord is responsible for maintaining common areas, providing security, and ensuring that the shopping center is well-maintained and meets local regulations. 4. Lease Term: The agreement specifies the duration of the lease, including the start and end date, as well as any options for renewal. 5. Tenant Improvements: If necessary, the agreement may outline the improvements or modifications the tenant is allowed to make to the leased premises, subject to landlord approval. Types of Oregon Percentage Shopping Center Lease Agreements: 1. Single-Tenant Lease Agreement: This type of lease agreement involves a single tenant leasing a standalone space within a shopping center. The percentage rent provision is applicable to this type of lease. 2. Multi-Tenant Lease Agreement: In this scenario, multiple tenants lease separate units within the same shopping center. Each tenant pays a base rent and a percentage rent based on their individual gross sales. 3. Anchor Tenant Lease Agreement: An anchor tenant is a large, well-known retailer that attracts significant foot traffic to the shopping center. This lease agreement is specific to these anchor tenants and may include additional provisions regarding exclusivity, parking spaces, and advertising. It is important for both landlords and tenants to carefully review and negotiate the terms of the Oregon Percentage Shopping Center Lease Agreement to ensure that their rights and obligations are clearly defined. Seeking legal advice before signing the agreement is highly recommended protecting the interests of both parties involved.