Lease Options

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FAQs

All leases at River Oaks Shepherd Commons are structured as Triple Net (NNN) leases. This means tenants are responsible for base rent, property taxes, insurance, and common area maintenance fees.

What are the lease rates at River Oaks Shepherd Commons?

Lease rates start at $42 per square foot and go up to $45 per square foot, depending on the specific space and location within the property.

What is a Triple Net (NNN) lease, and how does it apply here?

A Triple Net (NNN) lease means tenants are responsible for their share of property taxes, insurance, and common area maintenance (CAM) costs, in addition to the base rent. At River Oaks Shepherd Commons, the NNN charges are $12 per square foot annually.

How are the lease payments structured?

Lease payments include:
Base Rent: $42 to $45 per square foot annually.
NNN Charges: $12 per square foot annually.
Payments are typically made monthly and calculated by adding the base rent and NNN charges.

Are utilities included in the lease?

Utilities are not included in the lease. Tenants are responsible for setting up and paying for their own utility services directly.

What is the typical lease term?

Lease terms are flexible and can vary depending on your needs. Most leases range from 5 to 10 years. Medical leases tend to be over 10 years, and the average food and beverage lease is 7 to 1o years.

Do you Offer short term leases?

Yes, we would consider a short term 3 / 6/ pop-up lease for a pop-up retail shop in building B. The pricing for the pop-up space are $65 per square ft and require the tenant to restore the white box space to the condition prior to moving out. No TI allowance is provided for short-term pop-up spaces.

How large are the available spaces?

Space availability and sizes vary from 1,000 square feet to 5,200 square feet. Please contact us for up-to-date details on current vacancies and configurations.

Are there any tenant improvement (TI) allowances?

Tenant improvement allowances may be available and are negotiated on a case-by-case basis, depending on the lease terms and the type of improvements required.

How do I apply for a lease?

To apply for a lease, follow these steps:

  • Contact us to discuss
  • available spaces and arrange a property tour. Submit a completed
  • application form and business plan (if applicable). Provide proof
  • of financial stability (e.g., bank statements, credit check).
  • Review and sign the lease agreement.

Is a security deposit required?

Yes, a security deposit is required at the time of signing the lease. The amount typically equals one month's rent in addition to being required to pay the first and last month rent upfront. The deposit is refundable at the end of the lease, pending any damages or outstanding balances owed.

Who manages the property?

River Oaks Shepherd Commons is professionally managed by Wali + Partners Asset Management. Our team ensures the property is well-maintained and provides prompt assistance to all tenants.

What if this is my first business or have no business financial history?

We understand that starting a new business comes with challenges, especially if you don’t have an established credit history. To support entrepreneurs while protecting the interests of all parties, River Oaks Shepherd Commons requires the following financial documentation and guarantees for new businesses without credit history:

Personal Guarantee

A personal guarantee is required from the business owner(s). This ensures that you, as the business owner, personally back the lease agreement in case of default by the business. Security Deposit New businesses without credit history must provide a security deposit equal to 6- 12 months of base rent and NNN fees. The exact amount will depend on the size and duration of the lease.

Financial Statements

You will need to submit the following:

  • Personal financial statement: This includes a summary of your personal assets, liabilities, and net worth.
  • Bank statements: At least 6 months of recent personal or business bank statements demonstrating financial stability and sufficient liquidity.

Business Plan

A detailed business plan is required to evaluate your business model, revenue projections, and growth potential. Include:

  • Executive summary.
  • Financial forecasts (cash flow, profit/loss projections).
  • Market analysis.
  • Strategy for rent payments and operational sustainability.

Co-Signer Option

If applicable, a co-signer with an established credit history may also be required to strengthen your application.

Proof of Funding or Investment

Submit documentation that verifies your startup capital or any secured funding, such as:

  • Loan approval letters.
  • Investor agreements.
  • Savings accounts allocated to the business.
What is included in the common area maintenance (CAM)?

Common area maintenance (CAM) includes upkeep of shared spaces such as parking lots, landscaping, lighting, and other property-wide maintenance needs.

What maintenance responsibilities do I have?

As a tenant at River Oaks Shepherd Commons, maintaining and operating your leased commercial space is essential to ensure a smooth and professional environment for your business. Below are the key responsibilities tenants have for their individual spaces:

Maintenance and Repairs

  • Tenants are responsible for maintaining the interior of their leased space, including:
  • Flooring, walls, and ceilings.
  • Plumbing, electrical fixtures, and HVAC systems serving the unit (unless otherwise specified).
  • Any tenant-installed fixtures, equipment, or improvements.
  • Promptly address minor repairs to avoid escalating damage.

Compliance with Codes and Regulations

  • Ensure your business complies with all applicable local, state, and federal laws, including:
  • Building and zoning codes.
  • Health and safety regulations.
  • Fire codes and accessibility standards (e.g., ADA compliance).

Utility Payments

  • Tenants are responsible for establishing and paying for utilities directly serving their unit, such as:
  • Electricity, water, gas, and internet.
  • Waste disposal and recycling services.

Insurance Coverage

  • Maintain appropriate commercial insurance coverage as specified in the lease agreement, such as:
  • General liability insurance.
  • Property insurance for tenant improvements, inventory, and equipment.
  • Workers’ compensation (if applicable).

Cleanliness and Upkeep

  • Ensure the space remains clean and professional, including:
  • Regular cleaning of floors, windows, and fixtures.
  • Proper disposal of trash and recyclables.
  • Avoid actions that could cause damage or create hazards.

Tenant Improvements and Alterations

  • Any modifications to the space must receive prior written approval from the landlord. This includes:
  • Structural changes.
  • Installing permanent fixtures or equipment.
  • Painting or other aesthetic changes.
  • Restore any unauthorized alterations at your own expense if required.

Signage Installation

  • Comply with property guidelines for signage, including size, design, and placement.
  • Obtain any necessary permits and approvals before installing exterior or interior signs.

Pest Control

  • Tenants are responsible for addressing pest control issues within their space unless it originates from shared areas or is specified otherwise in the lease agreement.

Security

  • Secure your unit with appropriate measures, such as locks, alarms, or surveillance systems.
  • Ensure your space does not pose a security risk to other tenants or the property.

Reporting Issues

Notify the landlord promptly of any structural or shared property issues requiring repair, such as roof leaks, parking lot damage, or common area concerns.

Who do I contact for more information?

For inquiries or to schedule a tour, please contact:
Ms. Bella DiNapoli
Phone: +1. 713.766. 2665
Email: leasing@walipartners.com
2015 South Shepherd, Suite 200, Houston, Texas 77019