primary lease

primary lease

The lease between a landlord and a direct tenant. Contrast with a sublease, which is between the tenant and a subtenant.

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The new construction property comes with a 20-year corporate lease with rare rental increases in the primary lease term.
Two of the deepwater leases have a seven year primary lease term, while all of the others have a five year lease terms.
Walgreens will have 20 years of primary lease term remaining upon commencement and the lease features rare rental escalations in the primary term and renewal option periods.
Buckhead Freestanding Restaurant for Sale in the heart of all the action.Tons of Free Dedicated Parking.Fully Equipped Turn-key for Any Casual or Upscale Concept.1,800/sf.$4,500 monthly rent all in.Several years remain on primary lease with five year option to renew.Owner invested over $300,000 to open doors.
Time remains on primary lease with option to renew.Well established.
Sycamore is one block off Historic Square that attracts buyers from a 25-radius including Loganville and Covington.Seating for 120.12-Seat Bar with full license to pour alcohol, wine and beer.Outdoor seating for 20.Several years left on primary lease with option to renew at $2,500 per month, all in.Tons of parking.Owner pulls out $3,000 plus per month on gross sales of $450,000 with zero advertising or effort after paying all expenses and Manager $500 per week and staff of between 18-20.Zero competition as this is the only sit down restaurant serving alcohol within a 10-15 mile radius.
Great location steps from Target, Publix, Khol's, Chick-filA, Appleebee's, Longhorn's, iHop, schools and tons of residential.Freestanding 3,000/sf.Monthly rent is $4,000 all in.Six years remain on primary lease with option to renew.This was formerly a Wendy's who relocated just a couple blocks away.Restaurant is absentee operated by 4-Managers who are on-board to remain with new Owners.Seller opened in November at a cost of almost $200,000 so name, books and records are not being provided but Seller would license name and concept if Buyer is interested in keeping.
Having such "privity of contract" with the property owner assures the space user that building services will be available directly from the landlord without the involvement of an intermediary, whereas a subtenant is at risk of losing its space as a result of its sublandlord's default under the primary lease.
With the help of its tenant rep, the New York office of The Staubach Company, Novell, whose 10-year primary lease for the 35th floor ended in January, searched all along the Sixth Avenue corridor for a new home.
Historic Decatur Square Restaurant & Bar w/Large Patio.Fully Equipped Stunning Turn-key For Any Concept3,500/sf with seating for almost 100-guests.Large Bar and Lounge seats 35.Outdoor patio accommodates 60.Rent all in is $,7800 per month with 2% bumps.Plenty of time is left on primary lease with two five-year renewal options.Over $600,000 was spent on opening.Fully up to code with massive grease traps.State of the art kitchen can produce any cuisine at any volume.Perfect for any full service, upscale or casual restaurant, gastropub, tavern, farm to table, etc.Current concept or name is not included in the sale.75% Owner financing with a $25,000 down payment over two-years at 5% interest.
Due to the construction component, financing was secured for a 26-year term, to mirror the approximate ten-month construction period and the 25-year primary lease between ownership and tenant.
However, should the residual value increase over the primary lease term, the potential rental income from the property will have increased as well.
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