A lease provision requiring the landlord to offer newly available adjacent space to the existing tenant before marketing it to the public.
A ROFO requires the landlord to present proposed terms to the tenant as soon as neighboring space becomes vacant. If the tenant declines or fails to respond within a specified notice period, the landlord can lease the space to anyone. Landlords prefer ROFOs over ROFRs because they do not chill third-party negotiations. Protective leases often stipulate that if the landlord later offers the space to a third party at a significantly lower rate (e.g., 10% less), the tenant's ROFO rights automatically reactivate.
Lextract extracts these fields directly from your lease PDF:
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