Restaurant Lease (Shopping Center) (Net Lease) (Pro-Landlord Long Form with Pro-Tenant Optional Provisions)

by Practical Law Real Estate

A Standard Document that provides a pro-landlord long form restaurant lease for a premises located in a shopping center. This net lease agreement details the tenant's financial obligations, including the payment of Base Rent, Percentage Rent, and Additional Rent for operating expenses and real estate taxes. This Standard Document addresses the initial build-out of the premises and contains provisions for a Tenant Improvement Allowance. It covers key issues specific to restaurant operations, such as the permitted use, liquor license requirements, and rules for an outdoor seating area. A detailed restaurant rider sets out operational standards for exhaust systems, grease traps, and trash disposal. This Standard Document also includes clauses on maintenance, alterations, insurance, assignment and subletting, and defaults and remedies and contains numerous optional clauses and alternative language favorable to the tenant, making it a useful tool for negotiations. This Standard Document has integrated notes with important drafting and negotiating tips for both landlords and tenants.