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Real Estate New Stores Agreement

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REAL ESTATE NEW STORES AGREEMENT

This Real Estate New Stores Agreement (the Agreement) is made and entered into as of , (Effective Date), by and between:

PARTIES

Entity Type — Landlord: Individual Corporation LLC Partnership

Entity Type — Tenant: Individual Corporation LLC Partnership

PROPERTY IDENTIFICATION

TERM AND POSSESSION

Lease Term Commencing on: and expiring on:

Possession Date:

FINANCIAL TERMS

Percentage Rent Provision: Yes No If yes, percentage: % of gross sales.

CONSTRUCTION, ALTERATIONS, AND SIGNAGE

Tenant shall perform Tenant Improvements in accordance with plans approved in writing by Landlord. Tenant Improvement Allowance stated above shall be disbursed upon documented costs and lien waivers. Tenant shall obtain all required permits and comply with applicable building codes and Tenant's legal obligations.

Signage is subject to Landlord's written approval, which shall not be unreasonably withheld. Tenant is responsible for manufacturing, installation, maintenance and removal of Tenant's signs, and any required permits or fees.

USE, OPERATIONS, AND EXCLUSIVITY

Permitted Use: Tenant shall use the Premises solely for the operation of a new retail store offering:

Exclusive Use: Landlord grants Tenant the exclusive right to operate the Permitted Use within the Shopping Center as described in Exhibit A (if applicable). Any expansion of exclusivity shall be by separate written amendment.

UTILITIES, TAXES, AND OPERATING EXPENSES

Tenant shall be responsible for all utilities serving the Premises and Tenant's pro rata share of Common Area Maintenance, real estate taxes, insurance, and operating expenses as more particularly set forth herein. Tenant's initial estimated monthly charge for CAM and taxes is:

INSURANCE AND INDEMNITY

Tenant shall maintain commercial general liability insurance, property insurance for Tenant Improvements and fixtures, and any other policies required by Landlord. Tenant shall indemnify and hold Landlord harmless from claims arising out of Tenant's use or occupancy of the Premises except to the extent caused by Landlord's gross negligence or willful misconduct.

MAINTENANCE, REPAIRS AND ALTERATIONS

Tenant shall keep the Premises clean and in good repair. Landlord shall maintain structural elements unless damage results from Tenant's acts or omissions. Tenant shall not make structural alterations without Landlord's prior written consent.

INSPECTION, QUIET ENJOYMENT, AND COMPLIANCE

Landlord and its agents may inspect the Premises upon reasonable prior notice. Landlord covenants that, if Tenant pays rent and performs Tenant's obligations, Tenant shall peaceably hold and enjoy the Premises subject to the terms hereof. Tenant shall comply with all statutes, codes, ordinances and rules applicable to its use, operation, and signs.

DISCLOSURES

Lead-Based Paint Disclosure: Yes No

Known Mold or Water Intrusion: Yes No

Prior Structural Damage or Material Repairs: Yes No If yes, describe:

DEFAULT AND REMEDIES

If Tenant fails to pay Rent when due or otherwise defaults under this Agreement beyond any applicable cure period, Landlord may pursue all remedies at law or equity, including termination, damages, and recovery of attorneys' fees. If Landlord defaults, Tenant may seek specific performance, damages and other equitable relief as provided by law.

NOTICES

Notices shall be in writing and delivered personally, by certified mail return receipt requested, or by nationally recognized overnight courier, and shall be effective upon receipt.

GOVERNING LAW; ENTIRE AGREEMENT

This Agreement shall be governed by and construed in accordance with the laws of the state in which the Property is located. This Agreement, together with any exhibits and addenda, contains the entire agreement between the parties with respect to the subject matter and supersedes all prior agreements and understandings, whether written or oral.

MISCELLANEOUS

Assignment and Subletting: Tenant shall not assign or sublet the Premises without Landlord's prior written consent, which shall not be unreasonably withheld. This Agreement may be executed in counterparts and by electronic signature, each of which shall be deemed an original.

REPRESENTATIONS AND WARRANTIES

Each party represents and warrants that it has the full power and authority to enter into this Agreement and that the person signing on its behalf is authorized to bind the party. Tenant represents that it has inspected the Premises and accepts them in their present condition, subject to any agreed repairs or work described herein.

Landlord Printed Name:

By:

Date:

Tenant Printed Name:

By:

Date:

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What the Real Estate New Stores Agreement Covers

A Real Estate New Stores Agreement is a written contract governing the development, lease, or occupancy of a new retail location. It typically sets out the parties (landlord, tenant, and any guarantor), the premises, lease or license term, permitted use, rent and additional charges, tenant improvement obligations, permitting and approvals, signage and operating covenants, insurance and indemnity, opening milestones, and remedies for default. Exhibits commonly include floor plans, site plans, a tenant improvement schedule, and any local licensing requirements. Proper execution and required acknowledgements determine enforceability.

Why this Agreement Matters for New Store Projects

A clear, well-drafted New Stores Agreement allocates construction risk, establishes who pays for build-outs and permits, fixes opening milestones, and protects both landlord and tenant expectations.

Why this Agreement Matters for New Store Projects

Who Typically Prepares and Signs This Agreement

Assigning clear responsibilities to each role during drafting and execution reduces delays and ensures accurate recordkeeping.

  • Franchisors and regional real estate teams managing multiple openings and uniform lease terms across jurisdictions.
  • Retail operations managers or franchisees responsible for store rollout, permitting, and compliance with operating covenants.
  • Landlord asset managers, leasing counsel, and third-party developers coordinating site readiness and tenant improvements.

Typical Signatories and Their Roles

Franchise Counsel

General counsel or outside attorney for the franchisor usually drafts or reviews clauses on brand standards, assignment, and termination rights and confirms legal authority to bind the franchisor.

Store Operator

The tenant or operator signs to accept rent, responsibilities for TI allowances, permitting obligations, and operational covenants; an authorized officer or manager should sign to ensure enforceability.

Six Core Elements to Include in Every New Stores Agreement

A complete agreement combines commercial terms, operational obligations, and technical exhibits so both parties know timing, costs, and remedies.

Parties and Definitions

Identify each legal entity, any guarantors, and define key terms such as 'Opening Date', 'Premises', and 'Completed TI'.

Premises and Scope

Describe leased area, common-area access, permitted use, signage rights, and any exclusive use or radius restrictions.

Term and Renewal

State lease length, renewal options, notice windows, and conditions necessary to exercise extensions or options.

Tenant Improvements

Detail build-out allowances, owner vs tenant responsibilities, approval process for plans, and completion milestones.

Rent and Additional Charges

Specify base rent, CAM/NNN charges, payment schedule, security deposit, and consequences for late payment.

Opening Milestones & Remedies

Include target opening date, delay responsibilities, cure periods, termination rights, and liquidated damages if agreed.

Step-by-Step: How to Prepare and Execute the Agreement

Follow a consistent sequence to draft, review, authorize, and retain the executed agreement to avoid rework or enforceability issues.

  • 01
    Draft Terms: Assemble commercial and technical terms for internal review.
  • 02
    Legal Review: Have counsel verify obligations, indemnities, and assignment rights.
  • 03
    Signatures: Collect authorized signatures and any required notarizations or witness attestations.
  • 04
    Record & Distribute: Record, file, and circulate final documents to stakeholders and systems.

How Execution and eSubmission Typically Flow

A straightforward e-signing workflow reduces turnaround time and preserves a complete audit trail for compliance and audits.

  • Upload Document: Place the final PDF or DOCX into the signing platform.
  • Assign Roles: Designate signer roles, order, and authentication level.
  • Send to Signers: Deliver signer links or invites by email or SMS.
  • Complete & Archive: Collect signatures, generate certificate of completion, and store securely.

Online Workflow Settings Recommended for New Store Agreements

Configure template and signer authentication to reflect business risk and legal requirements before bulk distribution.

Field Configuration
Authentication Email link / SMS code / ID verification
Conditional Fields Show TI exhibits only when TI allowance selected
Bulk Send Use for standard franchise addendums or multiple store rollouts
Audit Trail Capture timestamps, IPs, and signer actions

Platform and File Requirements for eSigning and Records

Choose a platform that meets your compliance needs and integrates with contract management or ERP systems to automate routing and retention.

  • File Formats: PDF, DOCX supported
  • Integrations: Salesforce, NetSuite, Microsoft 365
  • Audit & Security: Tamper-evident PDF and audit log

Common eSignature Pricing and Capability Comparison

Overview of starting prices and key capability differences among typical eSignature providers. signNow is listed first per vendor comparison standards.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial Varies by vendor Varies by vendor Varies by vendor Varies by vendor
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No

Common Mistakes That Cause Delays or Disputes

  • Using informal or inconsistent party names between exhibits and signature blocks leads to ambiguity about who is bound and delays title or funding actions.
  • Leaving effective dates or milestone deadlines blank or unclearly defined can create disputes over rent commencement and liability for missed opening targets.
  • Failing to attach required exhibits (site plan, TI schedule, permits) results in incomplete agreements that county recorders or internal approvers may reject.
  • Neglecting required consumer or tenant disclosures for electronic execution under ESIGN/UETA can invalidate consent and impact enforceability in consumer-facing transactions.

Key Risks and Potential Legal Consequences

Unenforceable Terms: ESIGN exceptions
Recording Rejection: County may refuse filing
Notary Failure: Acknowledgement may be invalid
Title Defects: Undisclosed liens risk
Tax Exposure: Backup withholding risk
Operational Delays: Missed opening milestones

Security and Compliance Considerations for Electronic Execution

Encryption: TLS 1.2/1.3 in transit
At-Rest Protection: AES-256 encryption at rest
Audit Trails: Detailed signer activity logs
Certifications: SOC 2 Type II, ISO 27001
HIPAA Note: BAA required for PHI
Legal Frameworks: ESIGN and UETA compliance

Real-World Examples of New Store Execution

Two brief customer examples illustrate practical outcomes when agreements are standardized and executed correctly.

Martin Properties

Tim Martin streamlined store rollouts with online execution and standardized exhibits.

  • Faster openings enabled concurrent tenant improvements and permitting.
  • "I can process and execute all of these documents online with 100% compliance and built-in security," says Tim Martin, founder, emphasizing reduced cycle time and consistent documentation across locations.

Optica Ventures

Optica centralized templates to reduce negotiation cycles and errors.

  • Central templates ensured consistent brand and lease provisions.
  • Brian Fitzgibbons, COO, noted the interface is simple for teams and customers, which helped speed approvals and reduce rework across multiple stores.

Frequently Asked Questions and Troubleshooting

Answers to common execution, recording, and eSignature questions frequently encountered when implementing new store agreements.


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