Virginia retail lease agreement template

Virginia Retail Lease Agreement

This Virginia Retail Lease Agreement (the "Agreement") is made and entered into as of [Date], by and between [Landlord Full Legal Name], residing at [Landlord Address] ("Landlord"), and [Tenant Full Legal Name], residing at [Tenant Address] ("Tenant").

1. Property Description

Option A: Lease of Entire Building

The Landlord leases to the Tenant, and the Tenant leases from the Landlord, the entire building located at [Property Address] with the legal description being [Legal Description].

Option B: Lease of a Portion of Building

The Landlord leases to the Tenant, and the Tenant leases from the Landlord, a portion of the building located at [Property Address] consisting of approximately [Square Footage] square feet (the "Premises") as outlined on Exhibit A attached hereto, with the legal description of the overall property being [Legal Description].

Premises includes storefront windows, [Number] parking spaces, restroom access, and common access corridors.

2. Use of Premises

Option A: Specific Retail Use

The Premises shall be used solely for the purpose of operating a [Retail Type, e.g., Apparel Store] and for no other purpose.

Option B: General Retail Use

The Premises shall be used for general retail purposes, consistent with applicable zoning laws.

Prohibited Uses include [List Prohibited Uses]. Tenant shall not engage in any illegal activities or sublease without Landlord's written consent. Tenant will comply with all relevant municipal zoning and Virginia ABC laws (if applicable).

3. Lease Term

Option A: Fixed Term

The term of this Lease shall commence on [Commencement Date] and shall expire on [Expiration Date].

Option B: Term with Renewal Option

The term of this Lease shall commence on [Commencement Date] and shall expire on [Expiration Date], with an option to renew for [Number] additional term(s) of [Number] years each, provided Tenant gives Landlord written notice of its intent to renew at least [Number] months prior to the expiration of the then-current term.

Conditions and notice period for early termination: [Conditions].

4. Rent

Option A: Base Rent Only

The base rent for the Premises shall be [Dollar Amount] per month, payable in advance on the [Day] day of each month.

Option B: Base Rent plus Percentage Rent

The base rent for the Premises shall be [Dollar Amount] per month, payable in advance on the [Day] day of each month, plus [Percentage]% of Tenant's gross sales exceeding [Dollar Amount] per [Month/Quarter/Year].

Security Deposit: Tenant shall deposit with Landlord a security deposit of [Dollar Amount], to be held in compliance with the Virginia Commercial Landlord and Tenant Act.

Rent Escalation: [CPI or Fixed Increases].

Late Fee: A late fee of [Dollar Amount] will be charged for any rent payment received more than [Number] days after the due date.

Payment Methods: [List Payment Methods].

5. Common Area Maintenance (CAM)

Option A: Fixed CAM Fee

Tenant shall pay a fixed CAM fee of [Dollar Amount] per month.

Option B: Pro Rata Share of CAM Expenses

Tenant shall pay a pro rata share of all CAM expenses, based on the ratio of the square footage of the Premises to the total leasable square footage of the building. The CAM expenses shall include [List of CAM Expenses, e.g., utilities, trash removal, snow/ice removal, HVAC servicing, landscaping, security, property management fees].

Landlord’s responsibility for repairs and maintenance: [Describe Landlord's Responsibilities].

Tenant’s responsibility for repairs and maintenance: [Describe Tenant's Responsibilities].

6. Tenant Improvements and Signage

Option A: Landlord Approval Required

All Tenant improvements and signage shall be subject to Landlord's prior written approval.

Option B: Specific Guidelines

Tenant improvements and signage must comply with the guidelines outlined in Exhibit B attached hereto.

Tenant shall obtain all necessary building permits. Signage must comply with city/county sign ordinances.

7. Insurance

Tenant shall maintain general liability insurance with a minimum coverage of [Dollar Amount], naming Landlord as an additional insured.

Tenant shall maintain property/casualty insurance to full replacement value for tenant improvements/inventory.

High-risk uses (restaurants, food prep, etc.): [Assign insurance obligations].

Compliance with Virginia fire code and fire/emergency procedures.

8. Landlord's Right of Entry

Landlord shall have the right to enter the Premises for repairs, maintenance, emergency response, and regular inspection, with [Number] hours' notice to Tenant, except in cases of emergency.

9. Assignment and Subletting

Option A: Landlord's Consent Required

Tenant shall not assign this Lease or sublet the Premises without Landlord's prior written consent, which consent shall not be unreasonably withheld.

Option B: No Assignment or Subletting

Tenant shall not assign this Lease or sublet the Premises.

Compliance with Virginia’s commercial assignment laws.

10. Default and Remedies

Events of Default: [List Events of Default, e.g., failure to pay rent, breach of lease terms].

Landlord's Remedies: Upon an Event of Default, Landlord shall have the right to [List Remedies, e.g., terminate the Lease, re-enter the Premises, accelerate rent].

Lockout rights, cure periods, termination, eviction procedures, and notice periods in accordance with Virginia court requirements.

11. Dispute Resolution

Any dispute arising out of or relating to this Lease shall be resolved through preliminary negotiation and mediation. If mediation is unsuccessful, the dispute shall be resolved in the courts of [City/County], Virginia, and governed by Virginia state law.

12. Miscellaneous

This Lease constitutes the entire agreement between the parties and supersedes all prior agreements and understandings. This Lease may be amended only by a writing signed by both parties. This Lease shall be binding upon and inure to the benefit of the parties and their respective heirs, successors, and assigns.

13. Required Disclosures

[ ] The Property is located in a flood zone.

[ ] The Property contains mold.

[ ] The Property was built before 1978 and may contain lead-based paint.

Any other environmental or regulatory disclosures: [List disclosures].

14. Tax Compliance

Tenant is responsible for state/local tax registration and payment requirements, including remittance of state and local retail sales and use tax, BPOL tax, and local business license requirements for the Tenant.

15. Accessibility

The building is compliant with accessibility standards.

16. Delivery of Premises

[ ] "As-is" delivery.

[ ] "Turnkey" delivery according to Exhibit C attached.

Landlord warranties or disclaimers for building systems: [List warranties or disclaimers].

IN WITNESS WHEREOF, the parties have executed this Lease as of the date first written above.

____________________________

[Landlord Full Legal Name]

____________________________

[Tenant Full Legal Name]