Lease Question - Clarifying my options under new landlord

[Alex Huang]

The building I rent for my office was sold to an outside investor last Summer. The investor has been pushing me to lock-in to a new 7 year contract (current term is up Dec 2018). My assumption is that the investor is looking to refinance and wants to have the security of tenants in-place long-term.

The landlord must honor the original lease and all of its terms. Is that correct? The lease was signed in 2006.

In my lease, one clause is the option to renew: Lessee, shall have the option to extend the term of this Lease upon the same terms and conditions set forth herein for the following period(s): One term of two years at a new rent rate of $16.50/sqft and then ten terms of two years each under the same terms and conditions also to include a 3% COLA increase in non-mortgage related expenses in each successive year as a tenant"

So rather than lock myself into a 7 year term, I can continue to just exercise my ten options of two year terms all the way through 2026. Is that right? Obviously, I would much prefer that flexibility in lieu of a commitment of 7 years.