other_material
confidence high
sentiment neutral
materiality 0.30
Precision Optics signs 7.5-year lease for ~19,590 sq ft in Littleton, MA
PRECISION OPTICS CORPORATION, INC.
- Initial term 7.5 years with two 5-year renewal options; base rent $361,435.50/yr (first year), 3% annual escalations.
- Rent abated for first six months; tenant responsible for 7.22% pro-rata share of taxes and operating expenses.
- Tenant has right of first offer on contiguous space in building during lease term or extension.
- Substantial completion of tenant improvements targeted for Aug 1, 2025; if delayed past Oct 1, 2025, tenant gets extra abated rent days.
- If occupancy not delivered by Jan 1, 2026 (excluding tenant delays), tenant may terminate and receive refund.
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