Right of First Refusal for Rental Property

I don't see why it would devalue the suite too much. As the seller/lessor, I would like this provision, bc i would have a shot at two buyers/lessees as soon as someine inquired about the property.

It might be a bit of a hastle, but I don't see why it would lower the value. However, I don't know exactly what's going on.

Regardless, make sure the term for your grantee's acceptance is very short, bc you don't want to slow down your buyer/lessee. 2-3 days should be plenty for a neighbor to decide if they want the neighboring property.

I would also guess that the ROFR may take out a certain percentage of the market from renting the 2nd space right?

ROFR is so that people can help protect themselves from competitors or someone that would hurt their business. If you rent it to a lawyer, he may not want another lawyer occupying the 2nd space and therefore it removes all lawyers from renting which may or may not be a lot of your potential tenants?

I own the building and lease would be for 3 years. I am thinking I will give him 6 months to excercise an option on the 3rd suite. I just don't want a messy situation where potential tenants do not want to sign a contract on a building that has an ROFR on it.

What do you guys think about letting the original tenant lease both suites and sublease parts out to other professionals, like CPA's, etc. I would want the right to approve any sub-lessee to prevent someone like a day care or tattoo parlor coming in.

Thoughts?