Very basic question regarding length of leases.
I’m an MBA student and have no background in CRE. I’m currently enrolled in a Real Estate class and find it very interesting and something that I may want to consider as a career.  However, I have one very stupid/basic question regarding leases.  When a big announcement is made that Company X is leasing space in a new building and it is seen as “big news” locally, what is a typical lease length?  I know that it probably varies depending on the local market, but consider an example of a major management consulting firm leasing space in a new building in a large city.  

How long would that typical lease be?  10 years?
[{"id": "exwiaec", "text": "For office asset class, probably 5 to 10 years. Industrial tenants go for longer. Usually.\n\nThere's no real way to guess. Lease agreements can have early termination clauses, early renewal options,etc. And like you said: it varies market to market. \n\nA larger, more prestige tenant would likely be a longer term deal. Say Microsoft is moving into a new space. They employ lots of people. Switching offices in 5 years wouldn't be in their interest. They'd be looking at 10, at the very least. \n\nBut on the flip side: a landlord would prefer a shorter deal, especially if they think they could get better rates (higher, in their case) due to market conditions in the near future. It is very much a landlord's market where I am. If you're a tenant, especially industrial tenant, you'd want to renew your lease sooner rather than later so you get locked in to a good rate.", "replies": [{"id": "ey55qjz", "text": "Lease length is roughly proportional to the size of the space. Larger spaces are leased for longer, smaller spaces for shorter terms. The reasons are simply that it costs a lot to move large operations and there are less of them. The smaller the space is, the more there are of them, and the more tenants there are for them. The smaller market is much more dynamic than the one for large spaces.", "replies": [{"id": "ey8sqyn", "text": "Also true. If the business is moving into a large space, they won't be vacating it soon.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ey908li", "text": "3year , 5year, 7year are all typical for small buisness owners.\n\nusually when you start getting into major grocery stores and big box tenants, you are looking at 10-20 year leases with 5,10, or 15 year options", "replies": [], "depth": 1}]