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Download Letter of Intent to Lease Commercial Retail Space

Thursday, October 26th 2017. | Sample Letters

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[Your Company Letterhead or Include Sender Address]

[Date]

[Landlord/Landlord Representative Name]
[Landlord/Landlord Representative Title]
[Landlord/Landlord Representative Company]
[Landlord/Landlord Representative Address]

RE: Letter of Intent to Lease Commercial Retail Space at [Property Address]

Dear [Landlord/Landlord Representative Name],

This Letter of Intent (“LOI”) expresses the non-binding intent of [Your Company Name] (“Tenant”), to lease approximately [Square Footage] square feet of commercial retail space (the “Premises”) located at [Property Address] (the “Property”).

1. Lease Terms
Tenant proposes the following key terms for a lease agreement (the “Lease”):
Commencement Date: [Target Date] or as mutually agreed upon in the Lease.
Lease Term: [Number] years.
Base Rent: [Dollar amount] per square foot per year ([Amount in words] per square foot per year) during the first year of the Lease term, with [Specify rent escalation structure, e.g., fixed increases or CPI adjustments] in subsequent years.
Use: The Premises will be used solely for [Specify intended business use].
Option to Extend: Tenant requests [Number] option(s) to extend the Lease term for a period of [Number] year(s) each, under the same terms and conditions as the initial term, except for the rental rate, which shall be [Specify rent adjustment for option period].
Improvements: [Describe any requested tenant improvements or alterations to the Premises. Specify who will be responsible for costs.]
Exclusivity: [Specify any requested exclusivity clauses limiting similar businesses within the Property].

2. Due Diligence
Upon execution of this LOI, Tenant requests a [Number] day due diligence period to review the following:

Lease Agreement: Review and negotiate the terms of a formal lease agreement.
Property Inspection: Conduct a thorough inspection of the Premises.
Financial Review: Tenant may conduct a financial review of the Property.

3. Good Faith
This LOI is a non-binding expression of interest and does not create a legal obligation on either party to enter into a Lease. However, both Tenant and Landlord agree to negotiate in good faith towards the execution of a formal Lease agreement reflecting the terms outlined herein.

4. Confidentiality
All discussions and documents related to this LOI and the potential Lease will be treated as confidential by both parties.

5. Expiration
This LOI shall expire on [Date] at [Time] unless extended by mutual written consent of both parties.

Tenant believes that the Premises at the Property represent an excellent opportunity and looks forward to a mutually beneficial relationship with Landlord. Please acknowledge your receipt of this LOI and your agreement to its terms by signing below.

Sincerely,

[Your Signature]

[Your Printed Name]

[Your Title]

[Your Company Name]

[Your Contact Information]

[Landlord/Landlord Representative Signature]

[Landlord/Landlord Representative Printed Name]

[Landlord/Landlord Representative Title]
[Date]

Disclaimer: This is a sample Letter of Intent and does not constitute legal advice. It is crucial to consult with a qualified real estate attorney to draft or review a letter of intent specific to your situation and jurisdiction.

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Download Letter of Intent to Lease Commercial Retail Space

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