What are possible consequences for tenant breaking a commerical lease, what actions can landlord take against tenant

What does it say about cancelling it? if you knew it was 23 not 24 months when you signed it, why did you sign it?

Disclaimer: Please note that this answer does not constitute legal advice, and should not be relied on, since each state has different laws, each situation is fact specific, and it is impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue. This answer does not create an attorney-client relationship.

You signed a lease stating it is 23 months. Unless there was a mutual mistake or a misrepresentation, it looks like you are stuck with it. If there had been a mistake or a misrepresentation respecting the length of the lease, then you may have grounds to extend it to 24 months. But you want to get out with about a year left. If you want to abandon the premises, I would first carefully read the lease. Typcially, the landlord will be able to obtain the balance of the rent due for the rest of the term. However, the landlord is under a legal obligation to mitigate its damages and must try to relet the premises. If the landlord relet the premises, the damages would be minimal. However, in this market, that likely will not happen. Another concern is who is the tenant. If the tenant is a corporate entitty and the corportion has no assets and will cease operation, there is not much downside to leaving the premises. However, often landlords require the principals to personally guarnatee the lease. B