other material
confidence high
sentiment neutral
materiality 0.50
Exponent extends Arizona lease to 2043; annual rent rises to $6.2M from $1M
EXPONENT INC
- Lease extension for 15 years starting Jan 17, 2028 through Jan 16, 2043.
- Current annual rent of $1,009,000 holds until Jan 16, 2028; then jumps to $6,183,325 per year.
- Rent adjusted every 5 years based on CPI, with first adjustment in 2033.
- Lessee retains right to remove vertical improvements; no additional rent for improvements during extension.