Sample abstraction — Real output from an actual PDF lease: an executed 258,000 sq ft industrial NNN. LeasePilot read the PDF and extracted every term automatically. No sign-up required to view.

100 Commerce Drive, Palmer Township, PA 18045

Sample

Review Flags (5)

highInvestor Favorabledefault_conditions.landlord_remedies

Lease includes confession of judgment provision allowing landlord to obtain immediate possession without hearing upon tenant default. This provides very strong enforcement mechanism for landlord.

mediumInvestor Favorablespecial_clauses.assignment_subletting

Landlord has both recapture right and 60% profit sharing on assignments/subleases, providing strong control and financial benefit from any tenant transfers.

mediumInvestor Favorablefinancial_terms.holdover

Holdover rent at 125% of base rent provides meaningful penalty for tenant overstaying, protecting landlord's ability to re-lease.

lowInvestor Favorablefinancial_terms.security_deposit

Security deposit reduction is contingent on no defaults during first 36 months and tenant remaining in full possession without assignment/subletting, providing incentive for good performance.

mediumAttorney Reviewdefault_conditions.tenant_default_triggers

Confession of judgment provisions require tenant acknowledgment and waiver of procedural rights. Ensure proper execution and compliance with Pennsylvania law requirements.

Lease Identification

Landlord: Palmer Industrial Holdings, LLC
Tenant: Lulu's Fashion Lounge, LLC
Property Address: 100 Commerce Drive, Palmer Township, PA 18045
Premises: Single-tenant industrial warehouse and distribution facility
Rentable Area: 258,232 sq ft
Lease Type: INDUSTRIAL
Execution Date: December 1, 2018
Commencement Date: February 1, 2019
Rent Commencement: February 1, 2019
Expiration Date: January 31, 2026
Lease Term: 7 years

Financial Terms

Base Rent Schedule

Period	Monthly	Annual	Per SF / Yr
February 1, 2019 – January 31, 2020	$128,040.00	$1,536,480.00	$595.02
February 1, 2020 – January 31, 2021	$131,881.00	$1,582,572.00	$613.09
February 1, 2021 – January 31, 2022	$135,838.00	$1,630,056.00	$631.51
February 1, 2022 – January 31, 2023	$139,913.00	$1,678,956.00	$650.48
February 1, 2023 – January 31, 2024	$144,110.00	$1,729,320.00	$669.99
February 1, 2024 – January 31, 2025	$148,433.00	$1,781,196.00	$690.08
February 1, 2025 – January 31, 2026	$152,887.00	$1,834,644.00	$710.53

Rent Escalation

Type: stepped
First Escalation: February 1, 2020
All Escalation Dates: February 1, 2020 · February 1, 2021 · February 1, 2022 · February 1, 2023 · February 1, 2024 · February 1, 2025

Security Deposit

Amount: $500,000.00
Form: cash
Burn-Down Permitted: Yes
Return Deadline: 1 months
Return Conditions: After Tenant's obligations under this Lease have been completely fulfilled

CAM Charges

Included: Yes
Tenant Pro-Rata Share: 100.00%
Monthly Estimate: $13,094.00
Annual Cap: 5.00%
Controllable Expense Cap: 5.00%
Audit Right: Yes
Exclusions: replacement of or structural repairs to the roof, foundation, or the exterior walls
repairs to the extent covered by insurance proceeds
alterations solely attributable to tenants of the Project other than Tenant
marketing expenses for leasing at the Project
legal costs for negotiating or enforcing any leases by other tenants or parties
leasing commissions

NNN Responsibilities

Taxes Paid By Tenant: Yes
Insurance Paid By Tenant: Yes
Maintenance Paid By Tenant: Yes
Structural Repairs Included: No
Roof Included: No
Details: Triple net lease where tenant pays all real property taxes, insurance, and operating expenses. Landlord retains responsibility for structural portions of roof, foundation and load-bearing walls.

Late Fee Structure

Applies: Yes
Grace Period: 5 days
Late Charge: 5.00%
Default Interest Rate: 10.00%/yr

Holdover

Month-to-Month Permitted: Yes
Holdover Rent: 125.00% of base rent

Critical Dates

FEB

2019

Lease Commencement

Passed

FEB

2019

Rent Commencement

Passed

FEB

2020

Rent Escalation

Passed

FEB

2021

Rent Escalation

Passed

FEB

2022

Rent Escalation

Passed

FEB

2023

Rent Escalation

Passed

FEB

2024

Rent Escalation

Passed

FEB

2025

Rent Escalation

Passed

FEB

2022

Security Deposit Reduction Eligibility

Passed

JAN

2025

Renewal Notice Window Opens

Passed

APR

2025

Renewal Notice Window Closes

Passed

JAN

2026

Lease Expiration

Passed

Renewal Option Exercise Deadlines

Option 1: 274 days written notice required

CAM Reconciliation

After the end of each calendar year

Renewal Options

Option 1

Term: 5 years
Notice Required: 9 months written notice
Exercise Deadline: —
Rent Determination: FMV
FMV Floor: 100.00%
Personal to Tenant: No
Conditions: Tenant is the tenant originally named herein, Tenant actually occupies at least 75% of the Premises, and no default exists

Special Clauses

None present: Rofo, Rofr, Co Tenancy, Exclusivity, Kickout Clause, Radius Restriction.

Assignment & Subletting

Assignment Permitted: Yes
Subletting Permitted: Yes
Landlord Consent Required: Yes
Consent Standard: not to be unreasonably withheld
Recapture Right: Yes
Profit Sharing on Assignment: Yes
Permitted Transfers: Parent or operating subsidiary of Tenant, subsidiary of Tenant's parent, entity with which Tenant may merge, or entity to whom Tenant sells all or substantially all of its assets

Landlord Obligations

Repair & Maintenance: Landlord responsible for structural portions of roof, foundation, load-bearing walls, and building systems outside the Premises. Tenant responsible for all interior systems and maintenance.

Tenant Obligations

Permitted Use: General office, receiving, storage and distribution of consumer goods and apparel, and such other uses as may be allowed by applicable law
Continuous Operations Required: —
General Liability Insurance: $2,000,000.00
Property Insurance Required: Yes
Workers Comp Required: Yes
Landlord as Additional Insured: Yes
Maintenance Scope: Tenant responsible for interior maintenance, HVAC, plumbing, electrical systems within the Premises. Landlord responsible for structural components including roof structure, foundation, and load-bearing walls.
Alterations Permitted: Yes
Restoration Required: Yes
Estoppel Response: 10 days

Default Conditions

Monetary Cure Period: 5 days
Non-Monetary Cure Period: 1 months
Tenant Default Triggers: Failure to pay rent after 5 business days
Assignment for benefit of creditors or bankruptcy proceedings
Insurance cancellation or material change
Vacating premises without proper arrangements
Unauthorized transfer
Failure to discharge liens within 15 days
Breach of any other lease provision continuing for 30 days after notice
Landlord Remedies: Terminate lease or tenant's right of possession
Cure default at tenant's expense with 5% overhead charge
Pursue remedies at law or equity
Recover damages including future rent
Confess judgment for ejectment
Self-Help Right: Yes

Termination Rights

Tenant Early Termination: Not present

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Disclaimer: This abstraction is generated by AI for informational purposes only. It does not constitute legal advice. All critical dates, obligations, and lease terms should be verified against the original executed document by a qualified real estate attorney before any business or legal decisions are made.