top of page
Form 9-1: Basic Major Tenant [Supermarket] Build-to-Suit Lease Letter of Intent

Form 9-1: Basic Major Tenant [Supermarket] Build-to-Suit Lease Letter of Intent


Form 9-1: Basic Major Tenant [Supermarket] Build-to-Suit Lease Letter of Intent; Landlord Constructs Tenant’s Building and On- and Off-Site Improvements


(18 pages)

  • Form addresses:

    • Tenant.
    • Lease term (and options)
    • The tenant's parcel and leased premises.
    • Area of major tenant's parcel and adjustments thereto.
    • Parcelization (optional).
    • Landlord's construction of building and site work.
    • Specific items included within the "Building Cost".
    • Specific items not included within the "Building Cost".
    • Specific items included within "Site Work or "Site Costs".
    • Major signage: major shopping center pylon or monument signs (attached signage design exhibits).
    • Annual rent: the sum of Building Cost Rent, Site Costs Rent and Land Rent.
    • Increase (or decrease) in Building Rent based upon unexpected increase (or decrease) in Building Cost; optional cancellation right upon increase in Building Cost above agreed maximum.
    • Rental increases.
    • Percentage Rent.
    • Rent Commencement: various approaches from which to select.
    • Building repair and maintenance.
    • Real estate taxes and assessments.
    • Common area maintenance.
    • Insurance.
    • Utilities.
    • Signs
    • Assignment and subletting.
    • Developer oriented "go dark" termination/re-purchase right.
    • Major tenant oriented co-tenancy clause.
    • Major tenant oriented optional "Concurrent Shops Construction" clause.
    • Example: Food and Drug Restrictions.
    • Major tenant oriented "Use Restrictions".
    • Commissions.
    • Conditions which must be approved by tenant's real estate committee (final site plan, access, investigations and documentation).
    • Financing contingency (developer oriented).
    • Non-binding letter.
    • Landlord oriented optional "Landlord Limited Exclusive Right": For a fixed period following execution of this letter tenant promises to (i) make a good faith effort to obtain real estate committee approval for the proposed transaction and (ii) not negotiate with other land owners within an agreed radius of the site.
    • Exhibit depicting major pylon or monument signs: agreement early on regarding signage will save time in the end.
bottom of page