Shell Lease
Categories: Real Estate
You want to rent some space for your new goat yoga studio/gyro shop. You find a place in an abandoned factory downtown. The inside has been cleared out, so there isn't much there. The landlord agrees to lease you the property, but you have to make all the improvements yourself.
You've just entered into a shell lease.
The term describes a situation where you lease a space, but need to finish the construction and make improvements yourself. In effect, you are leasing the shell of a space...just the four walls and the ceiling. What you do inside is up to you.
