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OFFICE LEASE AGREEMENT

Office Lease Agreement

OFFICE LEASE AGREEMENT | Document Parties: AP-Southeast Realty LP | BUSINESS PARK INVESTORS GROUP, LLC | Connecticut General Life Insurance Company | Crocker Realty Trust, LP | IMMUCOR, INC You are currently viewing:
This Office Lease Agreement involves

AP-Southeast Realty LP | BUSINESS PARK INVESTORS GROUP, LLC | Connecticut General Life Insurance Company | Crocker Realty Trust, LP | IMMUCOR, INC

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Title: OFFICE LEASE AGREEMENT
Date: 7/27/2007

OFFICE LEASE AGREEMENT, Parties: ap-southeast realty lp , business park investors group  llc , connecticut general life insurance company , crocker realty trust  lp , immucor  inc
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Exhibit 10.1.10

OFFICE LEASE AGREEMENT

[2985 BUILDING]

THIS OFFICE LEASE AGREEMENT [2985 BUILDING] (this “Agreement” ), is made and entered into as of the 26th day of January 2007 (the “Effective Date” ), by and between BUSINESS PARK INVESTORS GROUP, LLC, a Delaware limited liability company, successor-in-interest to AP-Southeast Realty LP, successor by name change to Crocker Realty Trust, L.P., which, in turn, is successor-in—interest to Connecticut General Life Insurance Company ( “Landlord” ) and IMMUCOR, INC., a Georgia corporation ( “Tenant” ).

W I T N E S S E T H :

WHEREAS , Tenant and Landlord entered into that certain Office Lease Agreement, dated as of February 2, 1996, as amended by that certain First Amendment to Lease Agreement dated as of March 8, 1998, as amended by that certain Second Amendment to Lease Agreement dated as of August 18, 1998, as amended by that certain Third Amendment to Lease Agreement dated as of August 19, 1999, as amended by that certain Fourth Amendment to Lease Agreement dated as of August 8, 2002, as amended by that certain Amended and Restated Fifth Amendment to Lease Agreement dated as of January 18, 2005, and as further amended by that certain Sixth Amendment to Lease Agreement dated as of March 31, 2006 (as so amended, the “Base Lease” ) with respect to the therein described space (the “Existing Premises” ) located as more particularly described in the Lease in the buildings known as 2975 Gateway Drive, Norcross, Georgia, 2990 Gateway Drive, Norcross, Georgia, 3130 Gateway Drive, Norcross, Georgia, 3150 Gateway Drive, Norcross, Georgia, and 7000 Peachtree Industrial Boulevard, Norcross, Georgia  (individually and collectively, the “Building” ) located in that certain office park known as Colony Center Business Park (the “Building Project” ); and

WHEREAS , Landlord and Tenant entered into that certain Amended and Restated Office Lease Agreement dated January 26 , 2007, for the sole purpose of partitioning the Base Lease by individual Building on a stand alone basis (the “Amended and Restated Lease” ) as more particularly described and set forth therein; and

WHEREAS , pursuant to the terms and conditions set forth in the Amended and Restated Lease, any expansion by Tenant to another building in the Building Park not then covered by the Base Lease would be treated as Stand Alone Lease (as defined therein) for the building in question; and

WHEREAS, Tenant and Tenant desire to enter into a Stand Alone Lease for certain premises in the building known as 2985 Gateway Drive, Norcross, Georgia (the “2985 Building” ) into which Tenant desires to expand, subject to and in accordance with the terms and conditions set forth in this Agreement.

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NOW, THEREFORE , in consideration of the foregoing and the mutual promises and covenants contained herein, and for other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree as follows:

1.              Stand Alone Lease . This Agreement shall be deemed to be a Stand Alone Lease for all space leased by Tenant hereunder in the 2985 Building, on the terms and conditions set forth in the Amended and Restated Lease as applicable to a Stand Alone Lease.

2.              Expansion Space . Effective on August 1, 2007 (the “Expansion Effective Date” ), Landlord does hereby lease, demise and let unto Tenant, and Tenant hereby accepts, subject to the terms of the Amended and Restated Lease as further modified and amended herein, 19,731 rentable square feet of space known as Suite 300, and 12,448 rentable square feet of space known as Suite 200, of the 2985 Building, for a total of 32,179 rentable square feet in the aggregate, as more particularly shown cross-hatched on Exhibit A attached hereto and made a part hereof (the “Expansion Space” ).  Following the addition of the Expansion Space and thereafter during the Expansion Term (as hereafter defined), the Expansion Space shall constitute the Premises under the Lease.  The number of rentable square feet in the Expansion Space includes an add-on factor for common areas in the 2985 Building and has been agreed upon by the parties as final and correct and not subject to challenge or dispute by either party.

2.              Expansion Term .  The demised term with respect to the Expansion Space ( “Expansion Term” ) shall commence on the Expansion Effective Date and shall continue through June 30, 2016, coterminous with the expiration of the demised term for the Existing Premises. If such existing tenant or occupant of Suite 200 holds over, and Landlord is delayed, using good faith efforts in Landlord’s discretion in acquiring possession of Suite 200 prior to August 1, 2007, or if Landlord is unable to tender possession of Suite 200 to Tenant on the specified date due to any other reason beyond the control of Landlord, Landlord shall not be in default hereunder nor in any way be liable to Tenant because of such delay, and Tenant agrees to accept possession of Suite 200 at such time as Landlord is able to tender the same. In such event, the commencement of the Lease Term with respect to Suite 200 shall be postponed on a day for day basis. The deferment of installments of Base Rent shall be Tenant’s exclusive remedy for postponement of the Commencement Date, and Tenant shall have no, and waives any, claim against Landlord because of any such delay. For purposes hereof, Landlord’s “good faith efforts” shall not include bringing legal action to compel such tenant to surrender the premises.

3.              Base Rent

A.             Except as set forth herein, commencing on the Expansion Effective Date, all obligations for Common Area Costs, Real Estate Taxes, Landlord’s Insurance Costs and all other charges applicable to the Existing Premises during the Lease Term

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shall be applicable to the Expansion Space during the Expansion Term calculated at the same rates, amounts, and escalations.

B.             Anything to the contrary in the foregoing notwithstanding, Base Rent for the Premises shall be in accordance with the following:

Time Period

 

Base Rent Per Rentable
Square Foot Per Annum

 

Monthly Base Rent

 

08/1/2007-11/30/2007

 

 

$

7.49

 

$

20,085.06

 

12/1/2007-11/30/2008

 

 

$

6.52

 

$

17,483.92

 

12/1/2008-11/30/2009

 

 

$

6.76

 

$

18,127.50

 

12/1/2009-11/30/2010

 

 

$

7.01

 

$

18,797.90

 

12/1/2010-11/30/2011

 

 

$

7.28

 

$

19,521.93

 

12/1/2011-11/30/2012

 

 

$

9.22

 

$

24,724.20

 

12/1/2012-11/30/2013

 

 

$

9.50

 

$

25,475.04

 

12/1/2013-11/30/2014

 

 

$

9.79

 

$

26,252.70

 

12/1/2014-11/30/2015

 

 

$

10.08

 

$

27,030.36

 

12/1/2015-06/30/2016

 

 

$

10.38

 

$

27,834.84

 

 

4.              Condition of Expansion Space .

A.             Except as expressly set forth in Section 4(B) below or in the Office Upfit Agreement attached hereto as Exhibit B and by this reference made a part hereof, (i) the Expansion Space shall be delivered to Tenant by Landlord “AS IS, WHERE IS AND WITH ALL FAULTS” and (ii) Landlord is not obligated to perform any tenant improvements therein or to provide any tenant improvement allowances with respect thereto.

B.             Notwithstanding the foregoing, Landlord represents and warrants that as of the Expansion Effective Date: (i) the basic plumbing, heating, ventilating, air conditioning, sprinkler and electrical systems and any conduits or connections thereto or distribution systems thereof serving the Expansion Space shall be in good working order and condition; and (ii) the Expansion Space is in compliance with all statutes, codes, ordinances, rules, regulations and laws of all local, state and federal authorities having jurisdiction over the Expansion Space and the Building including, without limitation, to the best of Landlord’s knowledge, all environmental laws and regulations; provided, however, Landlord shall not be obligated to make an alterations or improvements to the Expansion Space to cure any non-compliance caused (a) by Tenant’s specific use of the Expansion Space or (b) by any loss of any legal non-compliant or “grandfathered” status of the Expansion Space.  In all other cases, Landlord, at Landlord’s sole cost (and without reimbursement by Tenant) shall be responsible for correcting any failure of the Expansion Space to be in compliance with current laws, codes, regulations and ordinances.  In addition, Tenant shall not be required to pay any Base Rent, Tenant’s Share of Common Area Costs or any other sum with respect to the Expansion Space during any such time as the Expansion Space fails to comply with the terms of this Section 4(B) or is not free of all tenancies.

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5.              Access to Expansion Space .  Following the Effective Date, Landlord agrees to allow Tenant and the approved contractors of Tenant access to the Expansion Space for the purpose of performing the Tenant Improvement Work (as defined in Exhibit B attached hereto).  Such right of access shall be subject to all of the terms, covenants and conditions of the Lease, except that no Base Rent nor Tenant’s Share of Common Area Costs shall accrue with respect to the Expansion Space prior to the Expansion Effective Date.

6.              Must Take Expansion Space .

A.             Effective as of June 1, 2009 (the “Must Take Expansion Space Effective Date” ), Tenant must take and lease from Landlord in addition to the Expansion Space certain premises in the 2985 Building adjacent to and contiguous with the Expansion Space, comprised of 7,560 rentable square feet of space known as Suite 100, and 5,140 rentable square feet of space known as Suite 150, for a total of 12,700 rentable square feet in the aggregate (collectively the “Must Take Expansion Space” ).

B.             The Lease Term with respect to the Must Take Expansion Space shall commence on the Must Take Expansion Space Effective Date and shall expire on June 30, 2016, so as to be coterminous with the Expansion Term. If the Must Take Expansion Space becomes available prior to the Must Take Expansion Space Effective Date, and Tenant takes possession and occupancy thereof, all terms and provisions of the Lease shall apply to such occupancy provided that Tenant shall not be obligated to commence paying Base Rent or any other sum until the Must Take Expansion Space Effective Date.

C.             Landlord shall lease the Must Take Expansion Space to Tenant, and Tenant shall accept and lease the Must Take Expansion Space from Landlord, effective as of the Must Take Expansion Space Effective Date, in accordance with the same representations, warranties, duties and obligations of Landlord and Tenant applicable to the Expansion Space hereunder which shall, except as otherwise provided herein, apply equally to the Must Take Expansion Space. Without limiting the generality of the foregoing, commencing on the Must Take Expansion Space Effective Date, all obligations for Base Rent, Common Area Costs, Real Estate Taxes, Landlord’s Insurance Costs and all other charges applicable to the Expansion Space during the remainder of the Expansion Term shall be applicable to the Must Take Expansion Space calculated at the same rates, amounts, and escalations.

D.             Landlord shall provide Tenant with a Tenant Improvement Allowance equal to Eighty-Six Thousand Three Hundred Sixty and 00/100 Dollars ($86,360.00) for the Must Take Expansion Space. Tenant shall complete the build out of all alterations and improvements to the Must Take Expansions Space in accordance with the terms and conditions set forth in the Office Upfit Agreement attached hereto as Exhibit B .

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E.              The same warranties and representations made by Landlord with respect to the Expansion Space pursuant to Paragraph 4.A and 4.B above shall be applicable to the Must Take Expansion Space







 
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