base rent

Base Rent

The minimum rent on a space with variable rent. For example, a company may rent retail space from a facility and pay $3,000 per month plus some percentage of its revenue. In this case, the base rent is $3,000 because it can never go below that amount.

base rent

The minimum periodic rent specified in a lease. Additions could include the tenant's share of common area maintenance (CAM—pronounced as a word), share of building operating expenses,and percentage rent based on gross retail or food sales.

References in periodicals archive ?
5% or greater of the Company's total annualized base rent as of March 31, 2015:
The aggregate annualized straight line rental income for the occupied units, is approximately $40,000 per unit and the average monthly base rent, calculated as the monthly base rent divided by the number of occupied units, is approximately $3,000 per unit.
The pay structure -- in which the landlord takes a base rent plus an additional amount if the retailer achieves a certain sales threshold, or "breakpoint" -- has long been used in malls, brokers said.
The monthly base rent for the lease is $30,000, five times what Castlemont is currently charged.
But there are signs that lenders may be allowing landlords to lower the base rent instead of relying on concessions, thus recognizing that market-rate rent levels have lowered.
United Parcel Service has leased the corner retail consisting of 2,100 s/f with a base rent of $33 psf.
Given the challenging economic and retailing environment, there continue to be a handful of troubled tenants (including Homelife, whose lease is guaranteed by Sears) that account for less than 10% of current base rent.
Changes include raising the consumer price index - used to calculate rent increases - from 75 percent to 100 percent, using the previous year's rent instead of the current 1986 base rent to calculate increases and vacancy decontrol or some form of reasonable adjustment for rents when a coach is sold.
Larger tenants, with more negotiating leverage, generally negotiated floors and ceilings which would bracket their escalation liabilities or agreed upon a formula which permitted a percentage of the CPI increase to be passed thru to become additional base rent.
In addition to these locations, Acadia has a 49% joint venture interest in a 311,000 square foot shopping center which includes, among its other anchor stores, a 101,000 square foot Kmart store paying $566,000 in base rent.
Under the existing lease for the Worcester facility, the aggregate base rent payable for the remaining term of the lease was approximately $1.