Lease Agreement
Category: 270 Legal Recent Posts, Commercial Lease
LEASE AGREEMENT
THIS LEASE is executed this 3rd day of August, 2007, by and between DUKE REALTY LIMITED PARTNERSHIP, an Indiana limited partnership (“Landlord”), and RESTORATION HARDWARE, INC., a Delaware corporation (“Tenant”).
WITNESSETH:
ARTICLE 1
LEASE OF PREMISES
Section 1.01 Basic Lease Provisions and Definitions.
A. Leased Premises: All of that certain to-be-constructed building as shown on the site plan attached hereto as Exhibit A and made a part hereof which shall be situated on Enterprise Parkway in West Jefferson, Ohio (the “Building”), as well as the land described in Exhibit B attached hereto and made a part hereof (the “Land”) located in that certain common interest industrial park commonly referred to as Park 70 (the “Park”);
B. Rentable Area of the Building: Approximately eight hundred five thousand one hundred twenty-five (805,125) square feet, subject to final measurement in accordance with Section 1.03 (the “Rentable Area”);
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Section 1.03 Rentable Areas; Final Measurement of Leased Premises. Prior to Substantial Completion of the Leased Premises, Landlord shall cause the project architect (“Landlord’s Architect”) to calculate the rentable square footage of the Leased Premises, as constructed, in accordance with customary industrial standards using exterior wall dimensions, as promulgated by the Building Owners and Managers Association “Standard Method of Measuring Floor Area in Industrial Buildings” 2001. Following such remeasurement, (x) the rentable square footage calculated by Landlord’s Architect pursuant to the terms of this Section 1.03 shall be binding and conclusive upon the parties, and (y) all amounts, percentages and figures appearing or referred to in this Lease based upon rentable square footage (or Rentable Area) shall be modified in accordance with such determination; provided, however, that such remeasurement shall not modify or affect the Minimum Annual Rent payable by Tenant during the initial Lease Term.
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