I live in New Zealand and here it is a normal practice for landlords to offer a fixed-term tenancy agreement for 6-12 month. When it expires, then landlord/tenant can decide whether they want to sign another one (fixed-term), otherwise it becomes periodic.
Isn't it the case in US? I mean what's the point of wasting $250k if you can just wait for 6-12 months?
Or why can't they sell the building with a tenant? Why move out, what's the problem? It is a common practice here in NZ too.