Indicates a ROFR on specific adjacent or building spaces.
By Angel Campa, Founder · Updated March 2026
A ROFR gives a growing tenant the right to match any third-party offer on adjacent space, providing expansion security without committing to additional space upfront. Without a ROFR, a competitor could lease the space next door, or the landlord could price the tenant out. The ROFR is particularly valuable in tight markets where available space is limited and relocation costs are high.
Found in the "Options" or "Expansion" section, sometimes as a separate addendum. Look for the specific spaces covered, the matching period (typically 5-10 business days), and whether the ROFR survives renewal.
Lextract uses a combination of AWS Textract OCR and Claude AI to identify and extract the right of first refusal from your lease PDF. The AI searches for all pages of the document, then assigns a confidence score based on OCR quality and extraction certainty. Fields with lower confidence are flagged for human review.
Has Renewal Option
Indicates the presence of a contractual right to extend the lease term.
Renewal Terms
The specific parameters of the renewal.
Renewal Notice (Days)
The deadline prior to expiration by which the tenant must exercise the renewal.
Has Termination Option
Indicates the right to break the lease prior to the natural expiration date.
Termination Penalty
The fee or liquidated damages required to execute an early termination.
Right of First Offer
Indicates a ROFO to lease space before it hits the open market.
With a ROFR, the landlord first secures a third-party offer, then the tenant can match it. With a ROFO (Right of First Offer), the landlord must offer the space to the tenant first, before marketing it externally. ROFOs give tenants earlier access but less pricing information.
The typical response window is 5 to 10 business days from receipt of the third-party offer terms. Some leases allow 15-30 days for larger spaces. The tight deadline requires tenants to have pre-approved expansion budgets and space plans ready.
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.
Free AI lease abstraction tools are fast and easy — but they have real limitations. Here is what free tools deliver, what they miss, and when you need structured output instead.
Upload your lease PDF and Lextract will extract right of first refusal along with 98 other structured fields in minutes. Just $20 per lease.
Upload Your Lease