ground lease
- A type of lease that typically lasts for a long duration, where the tenant pays rent for the land and agrees to construct or enhance a building on it. It is sometimes referred to as a building lease
- The company entered into a ground lease with the city in which it agreed to erect a new office building.
- In a ground lease arrangement, the tenant built a shopping center on the rented property.
- The ground lease allowed the commercial tenant to develop the vacant land and make it profitable.
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