Commercial Lease Letter of Intent (Multi-Tenant) - Alaska
LETTER OF INTENT — MULTI-TENANT COMMERCIAL LEASE (ALASKA)
Before you use this: This proposal covers identified space within a property occupied or available to other tenants. Alaska's AS 34.03 chapter addresses dwelling-unit rentals; its residential tenant rules are not used as terms here. AS 09.25.010(a)(6) requires a writing subscribed by the party charged for an enforceable lease longer than one year. Identify any terms intended to bind the parties now in Section 8.
LOI date: [__/__/____]
Response requested by: [__/__/____]
Landlord: [LEGAL NAME, ENTITY TYPE, ADDRESS, EMAIL]
Prospective tenant: [LEGAL NAME, ENTITY TYPE, ADDRESS, EMAIL]
The parties propose to negotiate a definitive commercial lease for the Premises described below. Sections 1 through 7 record proposed lease terms only. Neither party grants possession or promises to enter a lease by signing this LOI. Section 8 states the terms, if any, the parties intend to bind them upon signature.
1. Building, suite, and shared areas
| Item | Proposal |
|---|---|
| Building or center name and street address | [________________________________], Alaska |
| Suite, floor, and attached premises plan | [________________________________] |
| Proposed use and operating hours | [________________________________] |
| Approximate rentable / usable area | [____] / [____] square feet |
| Measurement method and remeasurement adjustment | [________________________________] |
| Existing occupancy and delivery condition | [________________________________] |
| Parking spaces or allocation | [________________________________] |
| Loading, storage, and shared access | [________________________________] |
| Common areas Tenant may use | [________________________________] |
The definitive lease will show the exact suite boundaries and any common-area rights on a plan. Use of common areas is shared unless a separate exclusive area is identified: [________________________________].
2. Term, rent, and security
| Item | Proposal |
|---|---|
| Initial lease term | [____] years [____] months |
| Target delivery date | [__/__/____] |
| Commencement event | [SIGNING / POSSESSION / COMPLETION EVENT] |
| Rent commencement event | [________________________________] |
| Initial base rent | $[________] per [MONTH/YEAR]; increases: [________] |
| Free rent or tenant allowance | [________________________________] |
| Security deposit or letter of credit | [FORM, AMOUNT, HOLDER, RETURN TERMS TO NEGOTIATE] |
| Renewal and expansion options | [SPACE, TERM, PRICING METHOD, NOTICE WINDOW] |
A delay remedy, if agreed, will be stated in the definitive lease with its trigger, extensions, outside date, and calculation. This LOI supplies no automatic abatement or termination remedy.
3. Operating expenses and shared services
| Item | Proposal |
|---|---|
| Lease cost structure | ☐ Gross ☐ Modified gross ☐ Base rent plus stated pass-throughs |
| Tenant share of eligible common-area costs | [____]% or formula: [________________________________] |
| Base year or expense stop, if any | [YEAR / AMOUNT / METHOD] |
| Included costs | [SNOW/ICE, LANDSCAPE, SECURITY, COMMON UTILITIES, OTHER] |
| Excluded costs and capital-work treatment | [________________________________] |
| Estimated monthly payment and annual true-up | $[________]; reconciliation date: [________] |
| Tenant audit or backup-document access | [________________________________] |
| Property tax and insurance allocation | [________________________________] |
| Suite utilities and metering | [DIRECT METER / SUBMETER / FORMULA] |
The definitive lease will define the expense pool, tenant share, gross-up if any, vacancy treatment, payment timing, records, and dispute process. An estimated payment is not an agreed final cost.
4. Tenant mix, access, and use
| Matter | Proposal |
|---|---|
| Exclusive-use restriction requested by Tenant | [PRODUCT/SERVICE, AREA, EXCEPTIONS, REMEDY TO NEGOTIATE] |
| Existing exclusives that limit Tenant | [________________________________] |
| Co-tenancy or anchor-occupancy condition | [TRIGGER, MEASUREMENT, NEGOTIATED RESPONSE] |
| Signage and directory rights | [LOCATION, SIZE, APPROVAL, COST] |
| Building access and after-hours service | [________________________________] |
| Parking, deliveries, and snow-storage rules | [________________________________] |
| Assignment or subletting parameters | [________________________________] |
The parties will check actual tenant leases and center rules before promising exclusivity, co-tenancy, or signage rights. None is granted by this proposal alone.
5. Alaska operations and property condition
| Matter | Known condition and proposed responsibility |
|---|---|
| Winter pedestrian and vehicle access | [________________________________] |
| Snow and ice removal in shared areas | [________________________________] |
| Heating, freeze protection, and backup service | [________________________________] |
| Fuel, water, sewer, and utility interruptions | [________________________________] |
| Foundation, ground movement, and seismic condition | [________________________________] |
| Freight, seasonal delivery, and contractor access | [________________________________] |
| Existing tanks, spill records, and environmental reports | [________________________________] |
A listed matter is a diligence item, not a representation that a particular hazard, code rule, or insurance requirement applies to this Building.
6. Improvements, delivery, and lease documents
| Item | Proposal |
|---|---|
| Landlord's work and plan approval | [________________________________] |
| Tenant's work and allowance | [________________________________] |
| Permit and utility-connection responsibility | [________________________________] |
| Early access and insurance during work | [________________________________] |
| Target / outside work-completion dates | [__/__/____] / [__/__/____] |
| Furniture, fixtures, and removal at lease end | [________________________________] |
The definitive lease will address change orders, objective completion evidence, delay, maintenance division between suite and common areas, casualty, default, notices, and surrender. No work or reimbursement obligation arises from these proposed terms alone.
7. Negotiation schedule
| Milestone | Target date or person responsible |
|---|---|
| Building and expense records supplied | [__/__/____]; [NAME] |
| Draft lease circulated | [__/__/____]; [NAME] |
| Diligence completed | [__/__/____] |
| Target lease signature | [__/__/____] |
| Broker involved and fee agreement, if any | [NAME / SEPARATE WRITTEN AGREEMENT] |
Each party bears its own negotiation costs unless a binding term below states otherwise. A broker fee is payable only under a separate agreement with the person responsible for it.
8. Binding LOI terms, if selected
Only the following checked terms are intended to bind the parties when both sign this LOI; unchecked terms do not bind them.
☐ Confidentiality. Until [__/__/____], each party will use the other's nonpublic transaction information only to evaluate this proposal and disclose it only to advisers, lenders, and personnel who need it, subject to legal or already-public information exceptions.
☐ Exclusive negotiation for the identified suite. Until [__/__/____], Landlord will not solicit or negotiate a lease of the specific suite in Section 1 with another prospective tenant. This restriction ends earlier if either party gives written notice ending negotiations. It does not restrict leases of other suites.
☐ Access for diligence. Landlord will permit reasonable, scheduled, noninvasive access to the suite and common areas through [__/__/____]. Invasive testing requires separate written consent and insurance terms. The visiting party will repair physical damage it causes.
☐ Other binding term (attach exact text and expiry): [________________________________].
These binding terms are governed by Alaska law. Any dispute about them may be brought in a court with jurisdiction in Alaska. Notices under Section 8 go to the party addresses above by personal delivery, tracked mail, or acknowledged email. The proposed lease terms remain subject to a separately signed definitive lease.
LANDLORD: [LEGAL NAME]
By: [________________________________]
Name and title: [________________________________]
Date: [__/__/____]
PROSPECTIVE TENANT: [LEGAL NAME]
By: [________________________________]
Name and title: [________________________________]
Date: [__/__/____]
Sources and References
- Alaska Statutes § 09.25.010(a) (writing and signature for covered lease agreements).
- Alaska Statutes § 34.03.010(b)(1) (dwelling-unit chapter purpose).
About this template
- Last updated
- October 4, 2026
- Citations checked
- October 4, 2026
- Jurisdiction
- Alaska
- Category
- Real Estate
Legal authority
- AS 09.25.010(a)(6) (writing for a lease longer than one year)
- AS 34.03.010(b)(1) (residential rental chapter purpose)
Real estate documents transfer ownership, define who can use a property, and record agreements between buyers, sellers, landlords, and tenants. Deeds, purchase agreements, leases, and easements have to be drafted to meet state recording requirements, and mistakes show up at closing or years later in title disputes. Good real estate paperwork moves transactions forward quickly and avoids the kind of problems that only surface when it is time to sell or refinance.
Not legal advice
This template is provided for informational purposes. We recommend having an attorney review any legal document before signing, especially for high-value or complex matters.
Checked against the law it cites
A reviewer verified this template's legal citations against the official source on October 4, 2026.
AS 09.25.010(a) (checked October 4, 2026): "In the following cases and under the following conditions an agreement, promise, or undertaking is unenforceable unless it or some note or memorandum of it is in writing and subscribed by the party charged or by an agent of that party"
AS 09.25.010(a)(6) (checked October 4, 2026): "(6) an agreement for leasing for a longer period than one year, or for the sale of real property, or of any interest in real property, or to charge or encumber real property;"
AS 34.03.010(b)(1) (checked October 4, 2026): "simplify, clarify, modernize, and revise the law governing the rental of dwelling units and the rights and obligations of landlord and tenant"
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