Right of First Offer to Purchase (Commercial Lease) (Pro-Landlord) | Practical Law

Right of First Offer to Purchase (Commercial Lease) (Pro-Landlord) | Practical Law

A Standard Clause giving a tenant in a commercial lease a right of first offer (ROFO) to purchase the property in which the tenant's premises are located. While a tenant ROFO is typically a tenant-friendly provision, this Standard Clause is drafted to favor the landlord but has integrated notes with important explanations and drafting and negotiating tips for both landlords and tenants. While commercial real estate leases are generally governed by state law, this jurisdictionally neutral template is useful and relevant in every state.

Right of First Offer to Purchase (Commercial Lease) (Pro-Landlord)

Practical Law Standard Clauses w-017-8976 (Approx. 10 pages)

Right of First Offer to Purchase (Commercial Lease) (Pro-Landlord)

by Practical Law Real Estate
MaintainedUSA (National/Federal)
A Standard Clause giving a tenant in a commercial lease a right of first offer (ROFO) to purchase the property in which the tenant's premises are located. While a tenant ROFO is typically a tenant-friendly provision, this Standard Clause is drafted to favor the landlord but has integrated notes with important explanations and drafting and negotiating tips for both landlords and tenants. While commercial real estate leases are generally governed by state law, this jurisdictionally neutral template is useful and relevant in every state.