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FX also has first look options to renew Hung and Eastbound & Down.
A Options to renew residential and commercial leases take on various forms, said Lucas A. Ferrara, a Manhattan real estate lawyer.
The company will receive up to 15percentt of what it collects, under a one-year contract that has options to renew after six months.
Its final piece -- the 339,000-square-foot willhouse Corporate Express wileasease for 15 years with options to renew -- is to be completed by the end of 2001.
In exchange for agreeing to restore the houses -- a process that Historic Landmarks estimates will cost $350,000 to $600,000 apiece -- tenants are being offered 30-year leases at minimal or no rent, with options to renew.
Webvan has signed a 10-year lease for the entire Bronx building, with options to renew, said Lawrence Smith, an executive vice president of Sholom & Zuckerbrot, the real estate firm that represented both Webvan and the building's owner, the Feil Organization, in arranging the lease.
Similar(43)
Many companies sign leases with renewal terms, like a 10-year lease with an option to renew for another five years.
The bank has an option to renew for five years, at the open-market rent.
The license will be active for seven years, with an option to renew.
The lease is for one year with an option to renew for another.
Eichin hinted at an option to renew the contract at the end of the season.
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