What does a "build-to-suit" lease specify?

A "build-to-suit" lease is specifically designed to allow the tenant to customize and request modifications to the property according to their needs and specifications. This type of lease is ideal for tenants requiring a specific layout, design, or particular features that are not available in existing premises. The landlord typically agrees to construct or modify the building to meet these requirements before the tenant takes occupancy, which emphasizes the flexibility and customization inherently associated with this lease type.

The other options do not accurately capture the essence of a "build-to-suit" lease. For instance, a lease that prohibits any changes to the property would not align with the fundamental concept of tailoring the space to tenant specifications. Similarly, requiring tenants to pay for all property improvements contradicts the intention behind a build-to-suit arrangement, where typically, the landlord absorbs these costs to meet tenant needs. Lastly, a lease that only involves existing structures without modifications neglects the active role of customizing the physical space that defines a build-to-suit lease.