The building is in good condition and $700,000 of Tenant Improvements have been allocated for a roof replacement and other leasehold improvements (office upgrades and parking lot improvements) as part of the recently executed lease extension. There is an Absolute Net lease with annual increases (CPI 2% floor 5% ceiling) that does not have any renewal options remaining for the tenant. The landlord will be able to take advantage of mark-to-market rent at the end of the term. The tenant has occupied the existing facility since 2009 and just exercised a 10-year renewal.