The first step in buying or leasing commercial property often starts with a letter of intent. This document helps you communicate your interest and start negotiations with the property owner. While not legally binding in most cases, a well-written letter of intent sets the stage for a successful transaction.
Getting the wording right can make all the difference in how your offer is received. The following examples will show you exactly how to structure these letters for different situations, giving you the tools to craft your own with confidence.
Sample Letters of Intent on Commercial Property
Here are fifteen examples of letters of intent for various commercial property situations.
1. Basic Commercial Property Purchase
February 15, 2025
From:
John Anderson
Anderson Retail Group
123 Main Street
Boston, MA 02108
To:
Sarah Thompson
Thompson Properties LLC
456 Commercial Avenue
Boston, MA 02110
Subject: Letter of Intent to Purchase Commercial Property at 789 Market Street, Boston, MA
Dear Ms. Thompson,
This letter expresses my intent to purchase the commercial property located at 789 Market Street, Boston, MA 02115, currently owned by Thompson Properties LLC.
Proposed Terms:
- Purchase Price: $1,250,000
- Deposit: $50,000 upon acceptance of this letter
- Due Diligence Period: 45 days from acceptance
- Closing Date: Within 30 days after completion of due diligence
Conditions:
- Satisfactory inspection of the property
- Clean title report
- Ability to secure financing within 60 days
- Zoning verification for retail use
Please note this letter is non-binding and only serves to express my interest in the property. A formal purchase agreement will follow if these terms are acceptable.
I look forward to your response. Please contact me at (617) 555-1234 or john@andersonretail.com if you have any questions.
Sincerely,
John Anderson
President, Anderson Retail Group
2. Commercial Lease Letter of Intent
April 3, 2025
From:
Maria Garcia
Sunshine Café
234 Oak Street
Seattle, WA 98101
To:
David Wilson
Westside Commercial Properties
567 Pike Street
Seattle, WA 98101
Subject: Letter of Intent to Lease Space at Pike Place Center
Dear Mr. Wilson,
This letter outlines my intent to lease commercial space at Pike Place Center, specifically Unit 102 at 890 Pike Street, Seattle, WA 98101.
Lease Terms:
- Rental Space: 1,500 square feet
- Lease Term: 5 years with option to renew for 3 additional years
- Base Rent: $28 per square foot annually
- Security Deposit: Equal to two months’ rent
- Proposed Use: Restaurant/café
- Tenant Improvements: $50,000 allowance for build-out
- Lease Commencement: August 1, 2025, with 2 months free rent
Additional Terms:
- Triple net lease with tenant responsible for proportionate share of taxes, insurance, and common area maintenance
- Signage rights on building exterior and directory
- 5 dedicated parking spaces
This letter is non-binding and subject to negotiation of a formal lease agreement acceptable to both parties.
Please contact me at (206) 555-5678 or maria@sunshinecafe.com to discuss these terms.
Best regards,
Maria Garcia
Owner, Sunshine Café
3. Letter of Intent for Industrial Warehouse Purchase
March 10, 2025
From:
Robert Johnson
Global Logistics Inc.
789 Industrial Parkway
Atlanta, GA 30318
To:
Patricia Brown
Atlanta Industrial Holdings
456 Corporate Boulevard
Atlanta, GA 30339
Subject: Letter of Intent to Purchase Warehouse at 123 Fulton Industrial Boulevard
Dear Ms. Brown,
This letter expresses Global Logistics Inc.’s intent to purchase the industrial warehouse property at 123 Fulton Industrial Boulevard, Atlanta, GA 30336.
Property Details and Offer:
- Building Size: 75,000 square feet
- Land Area: 4.5 acres
- Purchase Price: $6,850,000
- Earnest Money: $200,000 to be held in escrow
- Due Diligence Period: 60 days
- Closing Timeline: 30 days after due diligence completion
Contingencies:
- Satisfactory property inspection and environmental assessment
- Verification of zoning for logistics operations
- Approval of purchase by Global Logistics Board of Directors
- Securing financing with terms acceptable to buyer
- Clear title with no encumbrances that would limit intended use
This letter serves as an expression of interest only and does not create any binding obligations. A formal purchase agreement will follow if these terms are agreeable.
Please contact me at (404) 555-9876 or rjohnson@globallogistics.com to discuss this proposal.
Respectfully,
Robert Johnson
VP of Operations, Global Logistics Inc.
4. Office Space Lease Letter of Intent
January 20, 2025
From:
Elizabeth Chen
Chen & Associates Law Firm
345 Pine Street, Suite 500
San Francisco, CA 94104
To:
Michael Reynolds
Downtown Towers Management
789 Market Street
San Francisco, CA 94103
Subject: Letter of Intent to Lease Office Space at Downtown Towers
Dear Mr. Reynolds,
This letter outlines Chen & Associates Law Firm’s interest in leasing office space on the 15th floor of Downtown Towers at 789 Market Street, San Francisco, CA 94103.
Proposed Lease Terms:
- Space: Suite 1502, approximately 3,800 square feet
- Term: 7-year lease
- Base Rent: $65 per square foot per year with 3% annual increases
- Commencement: June 1, 2025
- Security Deposit: Three months’ rent
- Tenant Improvements: $75 per square foot allowance
- Right of First Refusal: On adjacent Suite 1503 if it becomes available
Additional Requirements:
- 24/7 building access
- Inclusion in building directory and floor signage
- 8 reserved parking spaces in building garage
- Option to renew for two additional 5-year terms
This letter is non-binding and intended only to begin formal negotiations. We request an exclusivity period of 30 days to negotiate a formal lease agreement.
Please contact me at (415) 555-4321 or echen@chenlaw.com if you wish to proceed.
Yours truly,
Elizabeth Chen
Managing Partner, Chen & Associates
5. Retail Space Purchase Letter of Intent
May 5, 2025
From:
Thomas Williams
Williams Pharmacy Group
567 Madison Avenue
New York, NY 10022
To:
Jennifer Lopez
Manhattan Commercial Properties
890 Fifth Avenue
New York, NY 10021
Subject: Letter of Intent to Purchase Retail Property at 123 Broadway
Dear Ms. Lopez,
This letter expresses Williams Pharmacy Group’s intent to purchase the retail property located at 123 Broadway, New York, NY 10007.
Purchase Details:
- Property: 3,200 square foot retail space with basement storage
- Purchase Price: $4,200,000
- Deposit: $150,000 upon acceptance of this letter
- Financing: 60% loan-to-value conventional financing
- Due Diligence Period: 45 calendar days
- Closing Date: 30 days after completion of due diligence
Conditions:
- Acceptable property inspection and structural assessment
- Review and approval of all existing tenant leases
- Verification of no environmental issues
- Confirmation of proper zoning for pharmacy operations
- Review of all service contracts and warranties
This letter is not legally binding and is subject to negotiation and execution of a formal purchase and sale agreement.
Please contact me at (212) 555-8765 or twilliams@williamspharmacy.com to discuss this proposal.
Sincerely,
Thomas Williams
CEO, Williams Pharmacy Group
6. Mixed-Use Development Letter of Intent
June 12, 2025
From:
Amanda Miller
Cityscape Developments
456 Highland Drive
Austin, TX 78731
To:
Carlos Rodriguez
Downtown Austin Properties
789 Congress Avenue
Austin, TX 78701
Subject: Letter of Intent for Mixed-Use Development Project at East 6th Street
Dear Mr. Rodriguez,
Cityscape Developments would like to express our interest in purchasing the 2.5-acre parcel located at East 6th Street and Comal Street in Austin, TX 78702, for a planned mixed-use development.
Project and Offer Details:
- Purchase Price: $8,500,000
- Earnest Money: $300,000 (refundable during due diligence)
- Due Diligence Period: 90 days
- Closing Timeline: 45 days after due diligence completion
- Proposed Development: 150 residential units with 25,000 square feet of ground-floor retail
Contingencies:
- City approval of proposed zoning change to mixed-use
- Satisfactory environmental and geotechnical studies
- Verification of utility capacity for proposed development
- Securing project financing
- Approval from Cityscape board of directors
This letter is non-binding and serves only as a framework for further discussions. We request a 60-day exclusivity period to complete initial feasibility studies.
Please contact me at (512) 555-3456 or amanda@cityscapedevelopments.com to discuss next steps.
Best regards,
Amanda Miller
Development Director, Cityscape Developments
7. Restaurant Space Lease Letter of Intent
July 8, 2025
From:
James Kim
Seoul Fusion Restaurant Group
345 Peachtree Street
Atlanta, GA 30308
To:
Rachel Greene
Midtown Marketplace
678 Ponce de Leon Avenue
Atlanta, GA 30308
Subject: Letter of Intent to Lease Restaurant Space at Midtown Marketplace
Dear Ms. Greene,
This letter outlines Seoul Fusion Restaurant Group’s interest in leasing the end-cap restaurant space (Unit 101) at Midtown Marketplace, located at 678 Ponce de Leon Avenue, Atlanta, GA 30308.
Proposed Lease Terms:
- Space: 3,500 square feet plus 800 square feet for outdoor patio
- Term: 10-year initial term with two 5-year renewal options
- Base Rent: $42 per square foot for first 5 years, $45 per square foot for years 6-10
- Percentage Rent: 6% of gross sales above $1.5 million annually
- Security Deposit: Three months’ base rent
- Commencement Date: November 1, 2025 (with 90 days free rent for build-out)
Additional Requirements:
- $150,000 tenant improvement allowance
- Exclusive use as a Korean fusion restaurant within the shopping center
- Exterior and patio signage rights
- Grease trap and kitchen ventilation system provided by landlord
- 24-hour access for staff
This letter is non-binding and subject to negotiation of mutually acceptable lease terms.
Please contact me at (404) 555-7890 or james@seoulfusion.com to discuss this proposal.
Sincerely,
James Kim
President, Seoul Fusion Restaurant Group
8. Medical Office Purchase Letter of Intent
August 22, 2025
From:
Dr. Susan Wright
Wright Medical Group
123 Healthcare Drive
Denver, CO 80202
To:
Jonathan Clark
Medical Properties Trust
456 Lincoln Street
Denver, CO 80203
Subject: Letter of Intent to Purchase Medical Office Building at 789 Cherry Creek Drive
Dear Mr. Clark,
This letter expresses Wright Medical Group’s intent to purchase the medical office building located at 789 Cherry Creek Drive, Denver, CO 80209.
Purchase Details:
- Building Size: 15,000 square feet
- Purchase Price: $5,250,000
- Earnest Money: $175,000 to be deposited in escrow
- Due Diligence Period: 60 days from acceptance
- Closing Date: 45 days after completion of due diligence
Contingencies:
- Satisfactory building inspection and property condition assessment
- Clean environmental report
- Verification of ADA compliance
- Review and approval of any existing tenant leases
- Confirmation of proper medical zoning and licenses
- Ability to secure financing at prevailing market rates
This letter is non-binding and intended only to express our interest in the property. We look forward to working toward a mutually beneficial purchase agreement.
Please contact me at (303) 555-2345 or dr.wright@wrightmedical.com to discuss this proposal.
Best regards,
Dr. Susan Wright
CEO, Wright Medical Group
9. Hotel Property Purchase Letter of Intent
September 5, 2025
From:
Alexander Martin
Hospitality Ventures LLC
890 Oceanfront Drive
Miami, FL 33139
To:
Victoria Sanders
Coastal Properties Group
123 Collins Avenue
Miami, FL 33139
Subject: Letter of Intent to Purchase Beachside Hotel Property
Dear Ms. Sanders,
Hospitality Ventures LLC wishes to express our interest in purchasing the Beachside Hotel property located at 456 Ocean Drive, Miami Beach, FL 33139.
Acquisition Details:
- Property: 120-room hotel with restaurant and pool facilities
- Purchase Price: $22,500,000
- Initial Deposit: $500,000 upon acceptance of this letter
- Additional Deposit: $500,000 upon completion of due diligence
- Due Diligence Period: 75 days
- Closing Timeline: 60 days after completion of due diligence
Contingencies:
- Satisfactory property inspection and engineering reports
- Review and approval of all operational financials for past 3 years
- Verification of all licenses and permits
- Satisfactory review of all employee and vendor contracts
- Environmental assessment showing no significant issues
- Ability to assume or refinance existing debt
This letter is non-binding and serves only as a basis for negotiations. We request a 45-day exclusivity period to conduct initial due diligence.
Please contact me at (305) 555-6789 or amartin@hospitalityventures.com to discuss this proposal.
Respectfully,
Alexander Martin
Managing Partner, Hospitality Ventures LLC
10. Land Development Letter of Intent
October 10, 2025
From:
Laura Thompson
Greenfield Developers
123 Construction Boulevard
Phoenix, AZ 85001
To:
Mark Johnson
Western Land Holdings
456 Camelback Road
Phoenix, AZ 85016
Subject: Letter of Intent to Purchase Land Parcel for Commercial Development
Dear Mr. Johnson,
Greenfield Developers wishes to express our interest in purchasing the 12-acre land parcel located at the northeast corner of Tatum Boulevard and Shea Boulevard in Phoenix, AZ 85028, for commercial development.
Purchase Details:
- Land Area: 12 acres (approximately 522,720 square feet)
- Purchase Price: $14 per square foot ($7,318,080 total)
- Earnest Money: $250,000 (refundable during due diligence)
- Due Diligence Period: 120 days
- Closing Date: 60 days after completion of due diligence
Proposed Development:
- Mixed commercial center with retail, restaurant, and office spaces
- Development to begin within 12 months of closing
Contingencies:
- Obtaining necessary zoning approvals and permits
- Satisfactory environmental and soil tests
- Confirmation of adequate utility access and capacity
- Traffic study approval
- Securing development financing
This letter is non-binding and intended only to begin formal negotiations. We request a 60-day exclusivity period to conduct preliminary studies.
Please contact me at (602) 555-8901 or lthompson@greenfielddev.com to discuss this proposal.
Sincerely,
Laura Thompson
President, Greenfield Developers
11. Office Building Purchase Letter of Intent for Investment
November 15, 2025
From:
Richard Brown
Apex Investment Partners
789 Financial Avenue, Suite 1200
Chicago, IL 60601
To:
Katherine Wilson
Metropolitan Properties
456 Michigan Avenue
Chicago, IL 60611
Subject: Letter of Intent to Purchase Class A Office Building at 123 LaSalle Street
Dear Ms. Wilson,
Apex Investment Partners wishes to express our interest in purchasing the Class A office building located at 123 LaSalle Street, Chicago, IL 60603, for our investment portfolio.
Property and Offer Details:
- Building Size: 185,000 square feet
- Purchase Price: $78,500,000 ($424 per square foot)
- Current Occupancy: 92%
- Earnest Money: $2,000,000 deposited upon execution of purchase agreement
- Due Diligence Period: 60 days
- Closing Timeline: 45 days after due diligence completion
Contingencies:
- Satisfactory review of all tenant leases and estoppel certificates
- Verification of reported income and expenses for past 3 years
- Property condition assessment showing no major capital needs
- Environmental Phase I (and Phase II if necessary) reports
- Ability to assume existing financing or secure new financing
- Assignment of all service contracts and warranties
This letter is non-binding and serves only as a framework for negotiations. We request a 30-day exclusivity period while we conduct preliminary due diligence.
Please contact me at (312) 555-4567 or rbrown@apexinvestments.com to discuss this proposal.
Regards,
Richard Brown
Managing Director, Apex Investment Partners
12. Shopping Center Lease Letter of Intent
December 5, 2025
From:
Sandra Martinez
Athletic Essentials, Inc.
456 Retail Drive
Portland, OR 97201
To:
Timothy Brooks
Westview Mall Management
789 Shopping Center Boulevard
Portland, OR 97223
Subject: Letter of Intent to Lease Retail Space at Westview Mall
Dear Mr. Brooks,
Athletic Essentials, Inc. would like to express our interest in leasing retail space at Westview Mall, specifically the vacant anchor space previously occupied by Department Store X.
Proposed Lease Terms:
- Space: 25,000 square feet on main level
- Term: 10-year initial term with three 5-year renewal options
- Base Rent: $32 per square foot for years 1-5, with 10% increases for each subsequent 5-year period
- Percentage Rent: 4% of gross sales above $5 million annually
- CAM, Insurance, and Taxes: Proportionate share based on square footage
- Security Deposit: Two months’ rent
- Commencement Date: April 1, 2026 (with 6 months’ free rent for build-out)
Additional Requirements:
- $1.2 million tenant improvement allowance
- Exterior entrance and prominent signage on mall exterior
- 30 dedicated parking spaces near entrance
- Co-tenancy clause requiring 80% mall occupancy
- Exclusive use clause for sporting goods retailer over 10,000 square feet
This letter is non-binding and subject to negotiation of a formal lease agreement satisfactory to both parties.
Please contact me at (503) 555-6789 or smartinez@athleticessentials.com to discuss this proposal.
Best regards,
Sandra Martinez
VP of Real Estate, Athletic Essentials, Inc.
13. Industrial Property Sale-Leaseback Letter of Intent
January 18, 2025
From:
Daniel Wilson
Wilson Manufacturing
123 Factory Lane
Detroit, MI 48201
To:
Steven Parker
Industrial REIT Holdings
456 Investment Avenue
Detroit, MI 48226
Subject: Letter of Intent for Sale-Leaseback of Manufacturing Facility
Dear Mr. Parker,
Wilson Manufacturing proposes a sale-leaseback transaction for our manufacturing facility located at 789 Industrial Parkway, Detroit, MI 48211.
Sale Terms:
- Property: 120,000 square foot manufacturing facility on 8 acres
- Sale Price: $13,500,000
- Closing Timeline: 90 days from execution of purchase agreement
Leaseback Terms:
- Lease Type: Triple Net (NNN)
- Initial Term: 15 years
- Initial Annual Rent: $1,080,000 ($9 per square foot)
- Rent Increases: 2% annually
- Renewal Options: Two 10-year options
- Maintenance Responsibility: Tenant responsible for all building maintenance, repairs, and replacements
Additional Terms:
- Tenant to maintain property insurance
- Right of first refusal for tenant if owner decides to sell
- Tenant right to make alterations for manufacturing purposes with landlord approval
This letter is non-binding and intended to outline the basic terms for negotiation of formal agreements.
Please contact me at (313) 555-7890 or dwilson@wilsonmfg.com to discuss this proposal.
Sincerely,
Daniel Wilson
President, Wilson Manufacturing
14. Build-to-Suit Commercial Property Letter of Intent
February 28, 2025
From:
Lisa Johnson
National Banking Corporation
123 Financial Plaza
Dallas, TX 75201
To:
Mark Davidson
Commercial Development Partners
456 Builder Avenue
Dallas, TX 75202
Subject: Letter of Intent for Build-to-Suit Banking Center
Dear Mr. Davidson,
National Banking Corporation wishes to express our interest in a build-to-suit arrangement for a new banking center on your property located at 789 Main Street, Dallas, TX 75243.
Project Details:
- Land Area: 1.5 acres
- Building Size: 6,500 square foot bank building with drive-through lanes
- Project Completion: No later than September 30, 2026
- Lease Term: 20-year initial term with four 5-year renewal options
- Initial Annual Rent: $42 per square foot, triple net
- Rent Increases: 12% increase every 5 years
Design and Construction:
- Building to be constructed according to National Banking Corporation specifications
- Developer to obtain all necessary permits and approvals
- Minimum of 45 parking spaces
- ATM island with 2 machines
- 4 drive-through lanes with pneumatic tube system
Contingencies:
- Final approval of site plan and building design
- Verification of zoning for banking use
- Satisfactory environmental assessment
- Board of directors’ approval
- Execution of mutually acceptable lease agreement
This letter is non-binding and serves only as a framework for negotiations.
Please contact me at (214) 555-2345 or ljohnson@nationalbankingcorp.com to discuss this proposal.
Regards,
Lisa Johnson
Director of Real Estate, National Banking Corporation
15. Joint Venture Development Letter of Intent
March 25, 2025
From:
William Chen
Pacific Development Group
123 Venture Road, Suite 500
San Diego, CA 92101
To:
Jessica Thompson
Coastal Land Holdings
456 Oceanview Drive
San Diego, CA 92106
Subject: Letter of Intent for Joint Venture Development of Mixed-Use Project
Dear Ms. Thompson,
Pacific Development Group proposes a joint venture partnership with Coastal Land Holdings to develop the 5-acre waterfront property located at 789 Harbor Drive, San Diego, CA 92101.
Project Concept:
- Development: 250-unit luxury residential tower with 35,000 square feet of ground-floor retail and restaurant space
- Estimated Project Cost: $120 million
- Estimated Completion: 36 months from groundbreaking
Joint Venture Structure:
- Land Contribution: Coastal Land Holdings to contribute the land valued at $25 million
- Capital Contribution: Pacific Development Group to contribute $15 million in equity
- Additional Financing: Joint procurement of $80 million construction loan
- Ownership Split: 40% Coastal Land Holdings, 60% Pacific Development Group
- Development Fee: 4% of total project cost to Pacific Development Group
- Property Management: To be handled by Pacific Management (affiliated company) at market rates
Profit Distribution:
- Return of capital contributions first
- 8% preferred return on invested capital
- Remaining profits split according to ownership percentages
This letter is non-binding and intended to establish the framework for further discussions. We request a 90-day exclusivity period to finalize the joint venture agreement.
Please contact me at (619) 555-8901 or wchen@pacificdevelopment.com to discuss this proposal.
Sincerely,
William Chen
President, Pacific Development Group
Wrap-up: Sample Letters for Commercial Property
These fifteen sample letters of intent demonstrate the key elements needed for commercial property transactions across various situations. Each letter should be customized to your specific circumstances, but the basic structure remains consistent. Always include clear identification of the parties, specific property details, proposed terms, and any contingencies or conditions.
A well-crafted letter of intent shows professionalism and seriousness of purpose, setting a positive tone for negotiations. While these letters are typically non-binding, they serve as valuable roadmaps for the formal agreements that will follow.
Before sending your letter, have a qualified real estate attorney review it to ensure it protects your interests and clearly states which provisions are binding and which are not. With these examples as your guide, you can approach commercial property transactions with greater confidence and clarity.