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
Under 3 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.
A complete reference for commercial lease financial terms. Covers base rent, escalations, NNN vs gross, TI allowances, and percentage rent with examples.
What accuracy can you realistically expect from AI lease abstraction tools? We break down field-level accuracy rates, where AI excels, where it struggles, and how to validate output.
Compare the top AI lease abstraction tools for commercial real estate in 2026. We review Lextract, Prophia, Kolena, Leasecake, MRI Software, and more — with pricing, accuracy, and use-case guidance.
Upload any commercial lease PDF and get 126 structured fields extracted — just like the case study above. Works for any property type, lease structure, or jurisdiction. $20 per lease.
Upload Your Lease