Long-Term Lease

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Long-Term Lease

A lease for longer than one, five or 10 years, depending on the specific asset being leased. For example, commercial property usually has long-term leases for five or more years, while residential property often carries long-term leases for more than one year. A long-term lease locks in the price one pays for the asset, which is usually advantageous because prices often trend upward. However, long-term leases offer little flexibility. For example, one may have to pay significant penalties if one cancels a long-term lease. One humorous example of a long-term lease is the Guinness brewery in Ireland, which Arthur Guinness rented for 9,000 years for 45 pounds per year.
References in periodicals archive ?
Air Lease Corporation (AL) announced today that it has entered into 12 year long term lease agreements with Air China for 13 new jet aircraft delivering in 2013 and 2014 which consist of nine (9) new Boeing 737-800s and four (4) new Airbus A321-200s.
the Schultz team completed a 33,000 s/f long term lease for First Trade Show and;
The Schultz team completed a 33,000 s/f long term lease for First Trade Show, a trade show supplier, in Piscataway at Murray Construction's planned flex park.
It is excellent real estate, well designed and properly situated to serve as the regional headquarters of an essential governmental agency under a long term lease with a high probability of renewal.
The new tenants include Bass Pro Shops, which has signed a long term lease for the store that is currently occupied by Lord & Taylor.
WDF, NYC's leading plumbing and mechanical contractor services company signed a long term lease for 28,500 s/f at 718 South Fulton Ave.
The borrower has recently executed a new long term lease with Kaiser Foundation Hospitals, who is currently working on tenant improvements and will take partial occupancy of their space by the end of the year and the remaining space thereafter.
A long term lease with shirt maker, Van Heusen, for 3,500 s/f of space in Levittown Mews, Levittown, New York.
ADL Data Systems signed a long term lease for 9,500 s/f at 9 Skyline Drive, Hawthorne, NY.