Terns Pharmaceuticals extends office lease for 36 months through October 2027

Terns Pharmaceuticals, Inc.

Lease extended from Nov 1, 2024 to Oct 31, 2027 for 9,751 sq ft in Foster City, CA.
Monthly base rent: $0 (Nov '24-Jan '25), then $43,879.50 rising to $46,551.76 by 2026-27.
Tenant pays $43,789.50 as prepaid rent for Feb 2025 upon execution of amendment.
Option to extend for additional three years with 9-12 months written notice; first refusal right deleted.
Landlord may convert building to life science lab; tenant gets rent abatement and termination rights for significant disruption.

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