Tenant interview - is this reasonable to request for S&P

[Raj Singh]

I am looking to close on a NNN property. I find it a bit highly priced psf (370 psf) but reasonable based on tenant profile and ROI. its basically 7.1% ROI of a national dental chain in Southfield MI paying about 25++ psf with escalations and 7.8 years remaining.

Since this deal is clearly predicated on tenant strength, one of the stipulations I requested for prior to executing the s&p agreement is to allow for a tenant interview and to review tenant financials to assess likelihood of tenant renewing. 

I was advised by my realtor and lawyer this is not commonly requested. Almost made to feel this was an odd request and "Ordinarily, in all commercial leases, theres is a provision with respect to a renewal option that the tenant must exercise with in a stipulated period prior to the expiry of the lease. I assume, that is likely the case in this lease as well. We will certainly have the opportunity to review all this during the due diligence period."

We do have a copy of the lease and there is options to renew, but ofcourse these remain tenant options. My confidence of easily renting it out at the end of expiry at the current entry price to maintain the same NOI is not high should tenant not renew.

Are my requests entirely out of the ordinary? At 2M+ price tag, Id have imagined tenant interviews are reasonable, particularly in tenant dependent leases.