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A complete lease abstract — extracted from a real PDF in under 30 seconds. Risk flags highlighted. Everything export-ready. Choose a sample below to see three different lease types.
Retail coffee shop lease — NNN structure, percentage rent clause, co-tenancy anchor dependency, exclusivity clause, personal guarantee.
Risk Flags
Full personal guarantee with no burn-down provision and no stated expiration. Guarantor remains personally liable for all lease obligations for the full 7-year term. Negotiate a 24-month guarantee with a burn-down to 12 months after year 3, conditioned on no defaults.
6% of Gross Sales above $560,000 natural breakpoint. If annual revenue exceeds $560K (only ~$46,700/month), every dollar triggers additional rent. Verify how "Gross Sales" is defined — uncleared returns, employee discounts, and gift card activations may inflate the base calculation.
Lease triggers reduced rent if Whole Foods vacates. Given 4,600+ retail store closures in 2025, anchor dependency is real. The 120-day cure window and 18-month reduced-rent period are reasonable, but verify termination right is self-executing and not subject to Landlord cure.
Exclusive use for coffee and hot beverages — but food court operators are exempt. If the center has or adds a food court, any operator there can sell espresso and lattes without violating the exclusivity clause. Negotiate to exclude food court operators only from a defined separate zone.
Landlord retains recapture right — if Tenant requests assignment consent, Landlord can terminate the lease and deal directly with the proposed assignee. Eliminates any assignment value Tenant has built through the lease.
CAM of $5.50/RSF is an estimate. Total occupancy cost is $7,000 base + $1,283 estimated CAM = ~$8,283/month before percentage rent. Model worst-case: 15% CAM escalation in year 2 + percentage rent trigger = ~$9,200–$9,800/month effective rent.
Full Lease Abstract — 22 Data Points
| Field | Extracted Value |
|---|---|
| Tenant | Harbor Brew Co., LLC |
| Landlord | Midtown Crossing Properties, LP |
| Property Address | 4400 Grand Avenue, Suite 104, Nashville, TN 37203 |
| Premises Size | 2,800 RSF |
| Lease Term | 84 months (7 years) |
| Commencement Date | March 1, 2024 |
| Expiration Date | February 28, 2031 |
| Base Rent | $7,000/month ($84,000/year) — see Percentage Rent clause |
| Percentage Rent | 6% of annual Gross Sales exceeding $560,000 (natural breakpoint based on $7,000/month base rent ÷ 0.15). Reported quarterly; reconciled annually within 45 days of fiscal year end. |
| Rent Escalations | 3% annual increase on each anniversary of the Commencement Date |
| Security Deposit | $14,000 (2 months' base rent) |
| CAM Charges | Est. $5.50/RSF/year ($1,283/month) — reconciled annually |
| Expense Structure | NNN — Tenant pays pro-rata share of taxes, insurance & maintenance |
| Permitted Use | Sale of coffee, tea, baked goods, packaged beverages, and related merchandise only |
| Exclusive Use | Exclusive right to sell coffee, espresso drinks, and hot brewed beverages within the Shopping Center. Exceptions: (i) existing tenants operating as of Lease Date; (ii) food court operators selling any food item. |
| Co-Tenancy Clause | If anchor tenant (Whole Foods, 38,000 RSF) vacates and is not replaced within 120 days, Tenant may pay 5% of Gross Sales in lieu of base rent for up to 18 months, then may terminate on 90 days' notice |
| Renewal Options | (2) five-year options at then-market rent, 180-day advance notice required |
| Termination Rights | None — no early termination right granted to Tenant |
| Assignment / Subletting | Permitted with Landlord consent (not to be unreasonably withheld); recapture right reserved |
| Personal Guarantee | Full personal guarantee by Marcus D. Chen — unlimited duration, no burn-down |
| Insurance Requirements | CGL $2M per occurrence / $4M aggregate; property $500K; workers comp statutory limits |
| Holdover Provision | 150% of base rent for first 60 days; 200% thereafter; Tenant liable for all damages |
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