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Updated about 4 years ago,
Leave 'First Right of Refusal' out of Commercial Lease?
Im negotiating a commercial lease with a hospital and they are wanting to include a clause giving them the first right of refusal anytime during their either 5 or 10 year term (to be negotiated as well).
Because they are a slow-moving bureaucratic system I am of the mind to leave this clause entirely off the lease. It seems like it could be a headache down the road and will delay the signing of the lease if any additional pertaining terms need be assigned. Also, don't lessees usually pay a one-time administrative fee of sorts to have the first right of refusal?
Id love any input-
Is there any benefit to me having the first right of refusal clause in the lease? (I do want to sell this property to them eventually in an ideal world)
Should I charge a fee? How much, etc?
Super appreciate any feedback!!
thanks,
Jennie