Originally Posted by
T. Jamison
Ground lease only just means the land can only be leased. The landlord will not build the improvements for the tenant. If the landlord built the improvements that would be a "Build-to-Suit". I'm sure everyone has seen those signs before. The landlord leases the land to the tenant and the tenant builds the improvements at their own cost. When the lease expires, the improvements revert back to the property owner. These structures are relatively common for retail properties.
Not to steal a scoop from Pete, but a Memorandum of Lease was filed in May to Starbucks for the corner parcel. (Record Book 15751, page 493)
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