C-number: C-55-05-004-4
Vote: continued
Item Text
20. AMENDMENT TO LEASE AGREEMENT WITH PACIFIC OFFICE PROPERTIES TRUST/3800 NORTH CENTRAL, LLC Approve, and authorize Chairman to execute, Amendment No. 1 to Lease No. L-7371 with Pacific Office Properties Trust/3800 N. Central, LLC, as successor to City Square Associates, L.L.C., Lessor for 24,878 square feet of office space at 3800 North Central Avenue, Suites 1400, 1500 and 1650, for continued use by the Office of the Legal Advocate; and authorize an exception to County Policy A-1920 which limits the term of real estate leases to 60 months. Lease Amendment No. 1 extends the lease term for 64 months commencing August 1, 2010 and terminating on November 30, 2015. The County will receive four months of free rent at the start of the renewal term. This amendment provides the County with the right to early termination of the lease after the 36th month of the renewal term upon 180-day prior written notice. The amendment establishes a new Base Year of 2010 for the renewal term. Base Rental rates during the renewal term are as follows: Month/Year Rate per s/f Monthly 08-01-10 to 11-30-10 $0.00 s/f $0.00 plus rental tax and expenses 12-01-10 to 11-30-11 $18.00 s/f $37,317.00 plus rental tax and expenses 12-01-11 to 11-30-12 $18.50 s/f $38,353.58 plus rental tax and expenses 12-01-12 to 11-30-13 $19.00 s/f $39,390.17 plus rental tax and expenses 12-01-13 to 11-30-14 $19.50 s/f $40,426.75 plus rental tax and expenses 12-01-14 to 11-30-15 $20.00 s/f $41,463.33 plus rental tax and expenses (C-55-05-004-4-01)
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26. LEASE TERMINATION WITH AG-POP CS 3800 OWNER, LLC Approve the termination of Lease No. L-7371 with AG-POP CS 3800 OWNER, LLC, as successor in interest to both Pacific Office Properties Trust/3800 N. Central, LLC, and City Square Associates, LLC (the “Lessor”), for the Office of Legal Advocate’s premises at 3800 N. Central Avenue, Suites 1400, 1500, and 1650, Phoenix, Arizona; and authorize Real Estate Services staff to give formal notice to the Lessor of the lease termination. Lease L-7371 allows the County an option to terminate the agreement, without penalty, upon 180-day written notice to Lessor. The termination will be effective on, or about, April 30, 2014. Termination of this lease agreement is necessary due to plans to relocate the Office of Legal Advocate into vacant space at the County-owned Security Building at 222 & 234 N. Central Avenue, Phoenix. (C-55-05-004-4-02)
2 item(s) sharing C-number base C-55-05-004-4