If the property is sold to a new owner with an existing Ground Lease, and the Ground Lease has the option to extend the lease for an additional term, does the new owner required to honor the terms of the existing Ground Lease?
Hello :) Do you envision a certain type of tenant at your location? You can reach out to developers that are actively building locations for those tenants, franchisees who are active in the area, or brokers who act as "tenant representatives" for the companies that may want to lease it. Sometimes if they like the land they would reach out to you directly.
Base rent is usually based on market comparables of properties leased in the area. It's the rent per square foot that a tenant would pay to lease the property/unit, BEFORE the NNN expenses are added on. (NNN expenses can include tax, insurance, maintenance, etc).
