Hard contractual right to lease specified additional space at a stated trigger date.
Lease structure · Global
Hard contractual right to lease specified additional space at a stated trigger date.
A hard expansion right gives the tenant the contractual right to take additional space at one or more pre-defined trigger dates, at pre-agreed (or formula-driven) economics. The most valuable and most expensive contractual right; negotiate early in the LOI.
Expansion right is part of the lease structure 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.