Property Management
A West Virginia commercial property manager is negotiating a build-to-suit lease for a tenant who wants a custom-built facility. The key document used is a:
AStandard residential lease form
BLetter of intent followed by a comprehensive lease specifying construction obligations and tenant improvements✓ Correct
CPurchase contract for the land only
DWVREC commercial management agreement
Explanation
A build-to-suit arrangement typically begins with a letter of intent outlining key terms, followed by a comprehensive lease specifying the construction obligations, tenant improvement allowances, specifications, completion timeline, rent commencement, and all other terms.
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