This office lease clause lists a way to provide for variances between the rentable area of a "to be built" demised premises and the actual area after construction.
New York Remeasurement Clause Used When Variances Exist Between the Rentable and Actual Area of a Space to be Built
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FAQ
A Standard Clause defining the leased premises for a commercial real estate lease with language allowing the parties to remeasure the premises. A tenant's right to remeasure is generally a tenant-favorable concept, but this Standard Clause offers a landlord-friendly alternative for remeasurement.
Tenant's Premises . A portion of the first floor of the Building in ance with the floor plan attached hereto as Exhibit E and incorporated herein by reference.
Gross Lease Gross leases are most common for commercial properties such as offices and retail space. The tenant pays a single, flat amount that includes rent, taxes, utilities, and insurance. The landlord is responsible for paying taxes, utilities, and insurance from the rent fees.
Leased Premises means an area forming part of the Property, assigned to the LESSEE for its exclusive use under this Contract, per Lease Schedule.
