Lextract extracted 126 fields from a 69,000 RSF hospital lease: modified gross base year stop, 10-year term, and complex operating expense provisions.
By Angel Campa, Founder · Updated March 2026
Location
Cleveland, OH
Size
69,000 RSF
Annual Rent
$3.8M/yr
Term
120 months
Tenant
University Hospital
Landlord
Medical Campus Properties LLC
At 69,000 RSF on a 10-year modified gross lease, this hospital lease contains extensive operating expense provisions, base year calculations, and exclusions typical of large institutional tenants. The document is over 80 pages with complex exhibit structures defining the base year stop and expense escalation methodology.
Lextract parsed the full document including all exhibits, correctly identified the modified gross structure with base year stop, extracted the expense exclusion list, and flagged the unusual 10-year term (above the typical 5-7 year average for medical tenants) as a notable characteristic for review.
126
Fields Extracted
5-15 minutes
Extraction Time
| Field | Extracted Value | Why It Matters |
|---|---|---|
| Lease Type | Modified Gross with Base Year Stop | Tenant pays expenses above base year level — critical for CAM projections |
| Annual Base Rent | $3,795,000 | Largest rent obligation; $55/RSF is above-market for Cleveland |
| Base Year | 2022 | Expense stop benchmark year; affects future CAM exposure |
| Lease Term | 120 months (10 years) | Long-term commitment; renewal options particularly valuable |
| Security Deposit | $632,500 | 2-month deposit; appropriate for institutional tenant |
| Renewal Options | 3 × 5-year options | Total potential occupancy of 25 years |
Lextract extracts the base year, identifies the expense categories included in the stop, and flags the structure so analysts can correctly model future operating expense exposure above the stop level.
Hospital leases typically contain extensive operating requirements, hazardous materials handling provisions, signage rights, parking ratios tied to patient volumes, and long initial terms with multiple renewal options — all of which require careful extraction.
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