If this is in fact the intention do I simply terminate the current lease and create a new one?

They have 80 yrs left during their option period, yet they have the right to terminate after this year and every subsequent five years.

@Clay SellersIf the 401k is with your current employer, then you likely cannot roll any of it until you terminate employment. 

Lease states that  deposit will be returned only if  "the full term of the lease must have expired or been terminated without default by resident." 

You then use the money to pay for commercial attorney fees for lease termination and settlement, tenant leasing broker fees to find new tenant, lost downtime rent until released and occupied by new tenant, commercial attorney new tenant lease negotiations, and any tenant improvements credit tenant is seeking.You also need to check the rent history of the property for businesses for environmental issues.If this tenant is paying close to market rent and weak net worth then that can be very high risk.No legal advice given. 

Currently at SDL airport we are finishing two new 30,000/sf corporate hangars and the redevelopment of the "terminal building" - an office building of 24,000/sf.   

If the contractor is not performing to the contract set forth, you can terminate, access damages, etc.  

if your tenants are month to month, then you can simply terminate the rental agreement.

The statutes seem to indicate 60 days notice, but there would be no $$ to pay the rent as Soc Sec would terminate payments immediately. 

@Sam Lively I worked with @dan butler of Crestcore property management on a property I had under contract and enjoyed my experience with him even though I terminated the contract.