Lextract extracted 126 fields from Corsair Components' 40,000 RSF NNN industrial lease: rent abatement, pro rata share, and uncapped NNN expense structure.
By Angel Campa, Founder · Updated March 2026
Location
Milpitas, CA
Size
40,000 RSF
Annual Rent
$960K/yr
Term
60 months
Tenant
Corsair Components
Landlord
Prologis LP
This NNN lease includes a 3-month rent abatement at lease commencement and a pro rata share calculation based on a multi-tenant industrial park. The abatement period and pro rata methodology must be extracted accurately for rent roll verification and cash flow modeling.
Lextract extracted the rent abatement period (months 1-3), the post-abatement base rent, the NNN expense structure, and the pro rata share (12.4% of the industrial park). All fields required for accurate cash flow modeling and rent roll verification were correctly captured.
126
Fields Extracted
Under 3 minutes
Extraction Time
| Field | Extracted Value | Why It Matters |
|---|---|---|
| Lease Type | Triple Net (NNN) | Tenant pays all operating expenses above base rent |
| Annual Base Rent | $960,000 | $24/RSF NNN — Prologis Class A industrial rate for Silicon Valley |
| Rent Abatement | 3 months (months 1-3) | Free rent period reduces effective year-1 cash flow by $240,000 |
| Pro Rata Share | 12.4% | Tenant's share of common area and NNN expenses |
| NNN Expense Cap | Uncapped | No cap on NNN expenses — red flag for tenant |
| Renewal Option | 1 × 3-year option | Single renewal at fair market rent |
Lextract extracts the abatement start and end dates, the abatement amount (full or partial), and flags whether the abatement is contingent on any conditions such as tenant not being in default.
Uncapped NNN leases expose tenants to unlimited operating expense growth. Lextract flags this as a red flag and extracts all NNN expense categories so tenants can benchmark against prior year actuals and project future exposure.
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