Oklahoma Commercial Real Estate

Lease Type: Net. Net. Lease. Landlord responsible for roof and structure. Expense stop of $1.55 per SF for operating expenses including maintenance of exterior, management fees of 3%, taxes, insurance and landscaping. Tenant responsible for all utilities, maintenance of the interior and janitorial. Currently, Tenant reimbursing Landlord $2.25/SF in operating expenses. Original lease term expires on November 30, 2009. Tenant has agreed to extend the initial lease term for 5 years expiring on November 30, 2014. There will be another two 3-year options after the first 5-year remewal. The site has 725 Parking Spaces. Prior to commencement of the initial lease term, the Tenant invested over $6,700,000 in tenant improvements and trade fixtures contributting to below market rents.