This Commercial Lease Agreement ("Lease") is made between the parties identified below for the rental of office space situated on the fourth floor of the Market Street Tower, a Class A commercial building located in the Mid-Market district of San Francisco.
Landlord leases to Tenant the premises known as Suite 400, comprising approximately 3,850 rentable square feet on the fourth floor. The premises shall be used solely for general office purposes consistent with a Class A professional services tenancy, including meetings, administration, and data analytics operations.
The lease term shall be thirty-six (36) consecutive months, commencing April 1, 2025 and expiring March 31, 2028, unless terminated earlier in accordance with the provisions herein. Tenant shall have a one-time option to renew for an additional 24 months at prevailing market rent, exercisable no later than 120 days prior to expiration.
Base rent of $8,500 per month shall be due on the first calendar day of each month, payable via electronic transfer to Landlord's designated account. A 3% annual escalation shall apply on each anniversary of the commencement date. Late payments incur a 5% fee after a five-day grace period.
Tenant shall deposit $25,500 (equivalent to three months of base rent) upon execution of this Lease. The deposit shall be held in a non-interest-bearing account and returned within 30 days of lease termination, less any lawful deductions for damages beyond ordinary wear and tear or unpaid obligations.
Landlord shall provide a Tenant Improvement Allowance of $15,000 toward qualifying build-out expenses, including but not limited to partitions, flooring, lighting, and paint. All improvements require written approval from Landlord and must be completed by licensed contractors within the first 90 days of occupancy.
Landlord shall maintain the building structure, common areas, elevators, and HVAC systems. Tenant is responsible for interior maintenance, janitorial services, and all utilities metered separately to the premises, including electricity, internet, and telecommunications services.