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Letters of Intent are used to outline the major terms of an offer in order to avoid unnecessary costs of drafting legal documents in the event the parties do not agree to the terms as drafted. Once a Letter of Intent is signed by both parties, a purchase and sale agreement (PSA) is drafted. Not all commercial property transactions utilize a ...
Hobby Lobby typically seeks to rent big-box facilities, such as previously occupied supermarkets, hardware stores or Kmarts in mid- to high-income suburban areas. This allows Hobby Lobby to save 50–70 percent on an older, existing building lease as compared with constructing a new retail space, which they view as critical to their competitive ...
The complex fills space previously occupied by an orchard and nursery, which were the last remains of a dairy farm owned by A. F. Gilmore in the latter part of the 19th century. The developers began demolition of an antiques alley and other older buildings on Third Street behind CBS Television City , and broke ground for the new mall in 1999.
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Retail Lease in Chicago. A retail lease is a legal document outlining the terms under which one party agrees to rent property from another party. A lease guarantees the lessee (the renter) use of an asset and guarantees the lessor (the property owner) regular payments from the lessee for a specified number of months or years.
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