Wake North Carolina Percentage Shopping Center Lease Agreement

• Category: Landlord Tenant - Commercial Leases - Shopping Centers
• State: Multi-State
• County: Wake
• 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 Wake North Carolina Percentage Shopping Center Lease Agreement is a legal contract executed between a property owner, commonly known as the landlord or lessor, and a business entity, often referred to as the tenant or lessee. This agreement pertains specifically to shopping center spaces in Wake County, North Carolina, establishing the terms and conditions governing the lease of such commercial retail properties. The Percentage Shopping Center Lease Agreement grants the tenant usage and occupancy rights over a specific portion or unit within the shopping center, which is owned by the landlord. The agreement outlines various key elements, including rental rates, lease duration, common area maintenance charges, tenant responsibilities, and other essential details related to the business operations conducted within the premises. One distinct characteristic of the Percentage Shopping Center Lease Agreement is the inclusion of a "percentage rent" clause. This clause establishes that, in addition to the base rent, the tenant is required to pay a percentage of their sales revenue to the landlord. This percentage is typically calculated monthly or on a periodic basis, ensuring that the landlord shares in the success of the business. The Wake North Carolina Percentage Shopping Center Lease Agreement may have different variations or types, depending on factors such as lease duration, purpose of the tenancy, and specific provisions negotiated between the landlord and tenant. Some common types of lease agreements within Wake County may include: 1. Short-Term Lease Agreement: This type of lease generally extends for a period of one to two years and is suitable for tenants looking for a temporary or seasonal presence in the shopping center. 2. Long-Term Lease Agreement: These agreements typically span multiple years, ranging from three to ten years or more. They provide a stable and extended lease duration, often preferred by businesses planning for long-term growth and stability within the shopping center. 3. Anchor Store Lease Agreement: An anchor store typically refers to a large, well-established retail store that serves as the primary draw for other businesses in the shopping center. Anchor store lease agreements may have additional terms and conditions due to the significant impact the store has on foot traffic and overall center performance. 4. Pop-Up Shop Lease Agreement: Pop-up shops are temporary retail spaces that allow businesses to test new concepts, launch new products, or generate buzz for a limited time. Pop-up shop lease agreements are typically shorter, ranging from a few weeks to a few months. It is important to note that specific terms and conditions may vary significantly between individual lease agreements, and proper legal counsel should be sought during the negotiation and execution of any Wake North Carolina Percentage Shopping Center Lease Agreement.

The Wake North Carolina Percentage Shopping Center Lease Agreement is a legal contract executed between a property owner, commonly known as the landlord or lessor, and a business entity, often referred to as the tenant or lessee. This agreement pertains specifically to shopping center spaces in Wake County, North Carolina, establishing the terms and conditions governing the lease of such commercial retail properties. The Percentage Shopping Center Lease Agreement grants the tenant usage and occupancy rights over a specific portion or unit within the shopping center, which is owned by the landlord. The agreement outlines various key elements, including rental rates, lease duration, common area maintenance charges, tenant responsibilities, and other essential details related to the business operations conducted within the premises. One distinct characteristic of the Percentage Shopping Center Lease Agreement is the inclusion of a "percentage rent" clause. This clause establishes that, in addition to the base rent, the tenant is required to pay a percentage of their sales revenue to the landlord. This percentage is typically calculated monthly or on a periodic basis, ensuring that the landlord shares in the success of the business. The Wake North Carolina Percentage Shopping Center Lease Agreement may have different variations or types, depending on factors such as lease duration, purpose of the tenancy, and specific provisions negotiated between the landlord and tenant. Some common types of lease agreements within Wake County may include: 1. Short-Term Lease Agreement: This type of lease generally extends for a period of one to two years and is suitable for tenants looking for a temporary or seasonal presence in the shopping center. 2. Long-Term Lease Agreement: These agreements typically span multiple years, ranging from three to ten years or more. They provide a stable and extended lease duration, often preferred by businesses planning for long-term growth and stability within the shopping center. 3. Anchor Store Lease Agreement: An anchor store typically refers to a large, well-established retail store that serves as the primary draw for other businesses in the shopping center. Anchor store lease agreements may have additional terms and conditions due to the significant impact the store has on foot traffic and overall center performance. 4. Pop-Up Shop Lease Agreement: Pop-up shops are temporary retail spaces that allow businesses to test new concepts, launch new products, or generate buzz for a limited time. Pop-up shop lease agreements are typically shorter, ranging from a few weeks to a few months. It is important to note that specific terms and conditions may vary significantly between individual lease agreements, and proper legal counsel should be sought during the negotiation and execution of any Wake North Carolina Percentage Shopping Center Lease Agreement.