This office lease clause provides the tenant with a right of first refusal if additional space becomes available within the building.
The Alameda California Expansion Option Clause is a legal provision commonly found in commercial lease agreements in the city of Alameda, California. This clause grants the tenant the right to expand the leased premises within the same building or complex, subject to certain conditions and terms. The expansion option clause allows the tenant to take advantage of future growth or changing business needs without having to relocate or renegotiate a new lease. It provides flexibility and convenience for businesses looking to expand their operations while minimizing disruptions to their daily operations. There are different types of Alameda California Expansion Option Clauses that may be included in lease agreements. Some of these variations include: 1. Right of First Offer (ROFL): This type of expansion option clause gives the tenant the first opportunity to lease any additional space that becomes available within the building or complex. The landlord is obligated to inform the tenant of any available space before offering it to other potential tenants. 2. Right of First Refusal (ROAR): In this type of expansion option clause, the tenant has the right to match or better any offer made by a third party to lease additional space within the building or complex. If the landlord receives an offer from another potential tenant, the tenant with the ROAR can choose to exercise their right to lease the space on the same terms. 3. Fixed Expansion Option: This type of expansion option clause specifies predetermined terms and conditions for expanding the leased premises. It may include provisions such as the size or square footage of the expansion, rent adjustments, or specific timeframes within which the option must be exercised. 4. Step-Up Expansion Option: Under this clause, the tenant has the right to expand the leased premises based on a pre-determined schedule or triggered by certain events. For example, the tenant may have the option to expand their space by a specific percentage each year or upon certain revenue thresholds being met. The inclusion of an Alameda California Expansion Option Clause in a lease agreement offers both landlords and tenants advantages. Landlords can attract and retain tenants by providing future growth opportunities, while tenants can secure long-term space with built-in expansion flexibility.The Alameda California Expansion Option Clause is a legal provision commonly found in commercial lease agreements in the city of Alameda, California. This clause grants the tenant the right to expand the leased premises within the same building or complex, subject to certain conditions and terms. The expansion option clause allows the tenant to take advantage of future growth or changing business needs without having to relocate or renegotiate a new lease. It provides flexibility and convenience for businesses looking to expand their operations while minimizing disruptions to their daily operations. There are different types of Alameda California Expansion Option Clauses that may be included in lease agreements. Some of these variations include: 1. Right of First Offer (ROFL): This type of expansion option clause gives the tenant the first opportunity to lease any additional space that becomes available within the building or complex. The landlord is obligated to inform the tenant of any available space before offering it to other potential tenants. 2. Right of First Refusal (ROAR): In this type of expansion option clause, the tenant has the right to match or better any offer made by a third party to lease additional space within the building or complex. If the landlord receives an offer from another potential tenant, the tenant with the ROAR can choose to exercise their right to lease the space on the same terms. 3. Fixed Expansion Option: This type of expansion option clause specifies predetermined terms and conditions for expanding the leased premises. It may include provisions such as the size or square footage of the expansion, rent adjustments, or specific timeframes within which the option must be exercised. 4. Step-Up Expansion Option: Under this clause, the tenant has the right to expand the leased premises based on a pre-determined schedule or triggered by certain events. For example, the tenant may have the option to expand their space by a specific percentage each year or upon certain revenue thresholds being met. The inclusion of an Alameda California Expansion Option Clause in a lease agreement offers both landlords and tenants advantages. Landlords can attract and retain tenants by providing future growth opportunities, while tenants can secure long-term space with built-in expansion flexibility.
