Plano Texas Provision Setting Out a Purchase Option

Category:

Landlord Tenant - Commercial Leases

State:

Multi-State

City:

Plano

Control #:

US-OL2404

Format:

Instant download

Description

This office lease provision states that at the end of the fifth (5th) year of the lease, the tenant shall have an option to purchase the building in which the premises is located at fair market value.

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FAQ

The median property value in Plano, TX was $358,100 in 2021, which is 1.46 times larger than the national average of $244,900. Between 2020 and 2021 the median property value increased from $341,800 to $358,100, a 4.77% increase.

Plano (/?ple?no?/ PLAY-noh) is a city in the U.S. state of Texas, where it is the largest city in Collin County. Plano is also one of the principal cities of the Dallas-Fort Worth metropolitan area.

Plano is the headquarters of Frito-Lay, a division of Pepsico. Heritage Farmstead Museum occupies a former sheep ranch. Plano, considered the ?Balloon Capital of Texas,? hosts a popular hot-air balloon festival each September.

Plano Demographics White: 55.55% Asian: 22.68% Two or more races: 9.2% Black or African American: 9.02%

Quality medical care facilities, superior educational opportunities, and excellent recreational and cultural amenities contribute to the quality of life for Plano's citizens.

In 1994, the city was recognized as an All-America City. By 2000, the population grew to 222,030, making it one of the largest suburbs of Dallas. Plano is surrounded by other municipalities and therefore cannot expand in area, and there is little undeveloped land remaining within the city limits.

Plano, considered the ?Balloon Capital of Texas,? hosts a popular hot-air balloon festival each September. Inc. 1873.

In a recent SmartAsset study, Plano ranked #9 for the wealthiest middle class. The median salary for a Plano resident is $95,002. In a SmartAsset study of the median household income in America's largest 100 cities, Plano ranked #9 for the most wealthy middle class.

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Plano Texas Provision Setting Out a Purchase Option

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