Lease Application
Please provide the following requested information
to be considered as a tenant at MaDang, the Courtyard. MaDang is not a
typical shopping center but a retail entertainment destination located
in Korea Town, Los Angeles. MaDang seeks tenants with a strong
financial background as well as a unique merchandising and business
plan. If we need further information from potential tenant, we will
contact them as needed.We accept company brochure, portfolio or
business plan for better evaluation.
Requested Business Information
Space Requested
Term, Rental Rate and Abatement
A. Term:
State exact Lease term.
B. Commencement Date:
May 2007 or State the Commencement Date of the
Lease.
If the Commencement Date is other than the
Delivery Date, delineate the difference.
C. Rental Rate:
State the desired rental rate per rentable square
foot per month with net, net, net (NNN) ("Base Rental").
D. Rental Abatement:
Describe any rental incentives required.
Conditions
Operating Expense Pass-Through:
Lessor will establish an operating expense
applicable to the first lease year of the Lease and in amount per
rentable square foot.
Real Property Tax Pass-Through:
Tenant will be responsible for property tax
increases due an increase in the assessed value of the Building
including a sale or transfer of the Building.
Security Deposit:
State the amount of Security Deposit proposed.
Prepaid Rental:
Describe any Base Rental Lessee shall prepay.
Lessee Improvement Allowance:
Lessee shall be responsible for all tenant
improvement after delivery date. Lessor shall provide basic building
envelope with HVAC split system units on the roof, Electrical power
hook up at the main panel in basement and water and sewer main line.
Parking:
State desired parking space for employee, each
store owner shall validate all visitors parking and the rate shall be
determined later.
On-Site Security:
State on-site security requirements during normal
working hours for the Building and Parking Facilities.
Operating Hours:
Describe Lessee’s required access to the
Premises (ie: 24 hours per day, 7 days per week).
Shop Keepers:
It is recommended to hire shopkeepers to maintain
MaDang as multi-lingual and multi-cultural destination.
Business Hours:
Describe Lessee’s required business hour.
Assignment/Sublet:
State if Lessor's consent, which Lessor will not
unreasonably withhold, delay or condition, is required for any
assignment or sublease. Does Lessee desire, without Lessor's consent,
to sublet all or any portion of the Premises or to assign the premises
to (i) a subsidiary, parent, affiliate, division or corporation
controlled by or under common control with Lessee; or (ii) a successor
corporation related to Lessee by merger, consolidation, reorganization
or government action? Describe how the excess rent will be split after
Lessee recovers Lessee's sublease expenses. How shall Lessee handle
primary liability for its obligations under the Lease as a result of
any sublease or assignment?
Right to Expand:
Describe how the Lease Agreement shall provide
Lessee with any rights to expand in new or contiguous spaces.
Tenant Improvement Criteria:
All tenant improvement criteria shall be set up at
restricted manner. MaDang should be free from signage pollution. Store
front design, color, material, signage size and location shall be
restricted as a high-end indoor mall.
Confidentiality:
Include the fact that the Parties will maintain
all confidential Information in confidence and will not disclose such
information to any other party without written consent.
"Confidential Information" includes the terms of this Letter,
the Lease and any and all information whether oral, written or other
form, which is communicated by Lessor to Lessee relating to
Lessor’s proposed development of the Premises, including but not
limited to, architectural plans, specifications, site plans and
drawings (regardless of whether such information is labeled as
confidential). Confidential information may be released to the parties'
employees, partners, consultants and lenders who have a reasonable need
for such Confidential Information, provide that such individuals agree
to maintain the confidential nature of the information. This provision
must be binding upon execution of this Letter even if the Parties do
not enter into a lease agreement or the Lease is terminated.
Miscellaneous:
Describe any miscellaneous provisions uniquely
specific to the Lessee.
It is understood that any Proposal does not
constitute an offer, acceptance, lease or agreement of any kind, and is
non-binding on the Lessor and the Lessee. It should include provisions
that the parties understand that no obligation shall arise between them
until the Lease Agreement has been reviewed by counsel and fully
executed by Lessor and Lessee and that agreement may contain terms and
conditions different from the provisions set forth in any Proposal.
Please send your application and additional
information package to:
Realtyland Co., Inc.
Attn: Mr. Edward Kim, CPM®
President
3701 Wilshire Boulevard
Suite 880
Los Angeles, CA 90010
Tel: 213-252-0073
Fax: 213-252-0846
Email: ekim@realtyland.com
Thank you for your interest in MaDang, the
Courtyard.
© 2006 Realtyland Co., Inc. All Rights
Reserved