001142 : The Geometry type option is invalid with an ArcGIS for Desktop Basic or ArcGIS for Desktop Standard license.

Description

Only RECTANGLE_BY_AREA and RECTANGLE_BY_WIDTH geometry types are available with an ArcGIS for Desktop Basic or ArcGIS for Desktop Standard license; all other geometry types require an ArcGIS for Desktop Advanced license. See tool reference for more details.

Solution

Specify RECTANGLE_BY_AREA or RECTANGLE_BY_WIDTH geometry type.