Frequently Asked Questions
Q: What is the term of lease?
A: Minimum three year, triple-net base.
Q: What is the security deposit?
A: First and last months rent.
Q: CAM
A: CAM is paid monthly based on a projection for the year with settlement at year-end. Charges are based on percentage of square footage for each tenant. CAM charges consist of taxes, water, electric, snow removal, landscaping, and cleaning and upkeep of common areas as projected in an annual budget. Any discrepancies high or low will be paid to the landlord or paid back to the tenant at the end of the calendar year. Has been running $5.50 – $6.00 / sq. foot.
Q: Build-out?
A: The suites are built out and ready for leasing. A fresh coat of paint and carpet clean is all that is needed.
Q: What constitutes repairs and maintenance (building structural and also structural for your space)?
A: Repairs for your space would include anything you would be responsible for or you put in. For instance, a clogged sink in your space would be your responsibility to repair, as would be a counter you installed and is falling from the wall. Defects in the building or provided structures such as doors and locks, ceiling tiles and windows inside your space would all be the landlord’s responsibility. Exterior defects are landlord’s responsibility.
Q: What costs are the landlord responsible for?
A: The installation of all new improvements (i.e. landscaping, new sprinkler system, fountains, statues, privacy fence) is the landlord’s responsibility.
Q: What about the sign?
A: You are entitled to and responsible for payment for your own signage on the main sign and have access to one panel front and back. Gary Sign built the sign and can more than likely have a new panel up within 2 weeks.
Q: What about the marquee?
A: If you would like to have a message displayed on the scrolling marquee, the first two months message is free. You can then lease the marquee sign for $200/month thereafter in yearly leases. A message for just one month would be $300 for the month.