AIR CRE lease abstraction for standard multi-tenant and single-tenant net leases, mapped paragraph by paragraph

An AIR CRE lease abstract is a structured summary of a lease written on one of the AIR CRE standard forms, organized around the form's own paragraph numbers. Because every AIR multi-tenant lease puts the economic terms in the same Basic Provisions block (1.1 to 1.12), the abstract can be built field by field against that block, then corrected for whatever the addendum changes.

That fixed structure is why AIR leases are well suited to software. The fields are always in the same place, so the work is not finding them. It is reconciling the printed form with the typed addendum, the exhibits and any later amendments, and recording which paragraph controls each value. Our key clause extraction page covers the clause-level fields for non-AIR leases.

This map follows the Standard Industrial/Commercial Multi-Tenant Lease, Net (form MTN-26.30, revised 10-22-2020). The single-tenant net form uses the same block without a Lessee's Share line, so its numbering shifts by one from 1.6 on.

On negotiated AIR leases the real commencement date, rent schedule and options usually live in the addendum, not on page one. In a 2023 multi-tenant net lease for 17,928 rentable square feet in Goleta, California, filed publicly as an SEC exhibit, Basic Provision 1.3 gives a four year term with the commencement date reading only "See Paragraph 50 of Addendum", and 1.5 has the rent adjustment box checked with a pointer to Paragraphs 4 and 51. The addendum in that lease runs from Paragraph 50 to Paragraph 70 and adds an option to extend, a right of first offer, force majeure and an inducement recapture clause.

Paragraph 44 of the form settles conflicts in favor of typed or handwritten provisions over the printed text, so the addendum wins. An abstract has to carry the addendum value and the paragraph it came from. LeaseAbstracts follows those cross-references and links each field to the paragraph that controls it, which is what a reviewer needs to sign off quickly. For the dates themselves, see critical date extraction.

Paragraph 4.2 is where AIR multi-tenant net leases put most of the tenant's cost after base rent, and its printed default is broad. The form defines Common Area Operating Expenses to include common area repair and replacement, utilities, property management, reserves, Real Property Taxes, the landlord's insurance premiums, insured-loss deductibles and professional fees.

Three printed rules are worth capturing in every abstract because they drive CAM reconciliation disputes:

• Capital improvements not covered by Paragraph 2.3 are spread over 12 years, and the tenant pays no more than its share of 1/144th of the cost in a month.
• The tenant pays monthly on the landlord's estimate, and the landlord delivers an actual statement within 60 days after a written request, no more than once a year.
• Any shortfall is due within 10 days of the statement, and overpayments are credited against future payments.

Addenda often add caps, exclusions or audit rights on top. The CAM charges extraction page lists the recovery fields we capture for every lease type.

These printed terms apply unless the addendum changes them, so an abstract should record the value and whether it was modified.

Holdover exposure is covered in more depth in our holdover tenant guide, and renewal fields on the renewal option extraction page.

AIR forms are the default broker forms across Southern California industrial and flex space, so the buyers are the teams that carry dozens or hundreds of them. Property managers onboard a newly acquired business park and need every unit in the rent roll by the first billing cycle. Landlords and funds run due diligence on a portfolio that is mostly AIR multi-tenant net leases. Tenants with several California locations need the same fields for their ASC 842 schedules.

The abstract usually lands in one of three places: a property management system, a lease accounting subledger, or a diligence workbook. LeaseAbstracts exports to Excel and CSV and maps to Yardi lease abstraction and MRI lease abstraction imports, and the ASC 842 lease data fields cover the accounting side. Industrial owners will find the rest of the workflow on the industrial lease abstraction page.

Abstracting AIR leases with software costs a fraction of paying per lease for a service. Outsourced abstraction is commonly priced per lease, and a negotiated AIR lease with a 20 paragraph addendum takes a careful human well over an hour to abstract and check. LeaseAbstracts plans are monthly with the price on the page: Solo is $49 a month for 15 leases, Team is $149 for 75 leases with confidence scores and checks, and Firm is $399 for 250 leases with batch upload. A 120 unit business park fits in Team over two months or Firm in one.

Every value comes back with its paragraph and page, so your reviewer confirms instead of retyping. See pricing or run your own AIR lease through the tool at the top of this page.