Lextract extracted 126 fields from ATX Technologies' 58,000 RSF single-tenant NNN office lease: 10-year term, corporate guaranty, and Vereit portfolio standard form.
By Angel Campa, Founder · Updated March 2026
Location
Boca Raton, FL
Size
58,000 RSF
Annual Rent
$1.9M/yr
Term
120 months
Tenant
ATX Technologies
Landlord
Vereit Net Lease
Single-tenant NNN office leases are common in net lease REIT portfolios but require careful extraction of the full NNN expense obligation alongside standard office lease terms. At 58,000 RSF on a 10-year term, this lease represents significant credit tenant exposure and includes a corporate guarantee structure typical of Vereit portfolio leases.
Lextract extracted the full NNN expense structure (taxes, insurance, maintenance, roof, structure), the corporate guaranty provisions, the 10-year term with renewal options, and the annual 1.5% fixed escalation schedule. The credit tenant classification and Vereit standard form provisions were correctly identified.
126
Fields Extracted
5-15 minutes
Extraction Time
| Field | Extracted Value | Why It Matters |
|---|---|---|
| Lease Type | Single-Tenant NNN | Full expense pass-through — credit analysis focuses on tenant, not property |
| Annual Base Rent | $1,856,000 | $32/RSF NNN — Boca Raton Class B office NNN rate |
| Lease Term | 120 months (10 years) | Long-term net lease common in REIT portfolio |
| Corporate Guaranty | ATX Technologies Inc. (full guarantee) | Corporate guarantee covers full lease obligation — key for credit analysis |
| Escalation | 1.5% annual fixed | Below-CPI escalation — common in long-term NNN structures |
| Renewal Options | 4 × 5-year options | 20 years of potential occupancy — strong anchor tenant profile |
NNN office leases typically include tenant responsibility for HVAC maintenance, common area costs, and sometimes structural elements. NNN industrial leases tend to have broader tenant responsibilities including crane/dock equipment. Lextract captures the specific expense categories included in each lease's NNN definition.
A corporate guaranty means the lease obligation is backed by the parent company's balance sheet, not just the operating entity. Lextract extracts the guarantor entity name, guaranty type (full/partial/limited), and any burn-down or release conditions.
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