Tenant's contractual right to lease additional contiguous space.
Leasing · Global
Tenant's contractual right to lease additional contiguous space.
Expansion options range from a soft right of first offer (ROFO) to a hard expansion right with a fixed price and timeline. Hard rights are the most valuable to growing tenants and the most expensive to landlords — negotiate them in the LOI, not the lease.
Expansion option is part of the leasing vocabulary that institutional Class A occupiers, landlords, and advisers use across Global markets. Understanding it correctly affects how you read lease documents, model occupancy economics, and benchmark deal terms across cities. Class A Atlas tracks regional variation alongside the global standard so cross-border occupiers can translate quickly.