C-number: C-86-06-044-4-08
Revision: 08
Vote — approved
Ayes: Bill Gates, Clint Hickman, Jack Sellers, Thomas Galvin, Absent: Steve Gallardo
Item Text
61. AMENDED AND RESTATED LEASE AGREEMENT WITH 4041 CENTRAL PLAZA LLC Approve and execute the Amended and Restated Lease Agreement (Agreement) with 4041 Central Plaza, LLC (Lessor), for Public Health’s use of 52,028 rentable square feet of office space located at 4041 N. Central Ave, Phoenix, Arizona, which includes the conc urrent termination of the current lease, and approve and authorize the Assistant County Manager for Maricopa County and/or the Real Estate Director for Maricopa County, each individually and separately, to administer this Agreement as appropriate and neces sary, which authority includes but is not limited to, execution of Subordination, Non-Disturbance and Attornment, and Estoppel agreements. The term begins upon full execution of the Agreement and expires May 31, 2031, eighty-nine (89) months beyond the current lease expiration of December 31, 2023. The total rent obligation over the term of the Agreement is $9,835,684.00 plus rental tax. The Agreement provides the County with 345 unreserved parking spaces, 13 reserved parking spaces and up to $700 per month for visitor validation credit (shared under another lease with Lessor) at no cost to the County. The Agreement includes two renewal terms of five years each, upon written agreement of both parties. The leased property is located in Supervisory Distr ict 3. Public Health currently occupies 4041 N. Central Ave on floors 6, 7, 8, 14 and A250 (55,898 RSF) under a lease agreement expiring December 31, 2023. Public Health will continue to occupy floors 6, 7, 14 and A250 under the lease agreement reference d above. Public Health will continue to occupy floor 8, along with its existing floor 2, under a separate lease agreement. (C-86-06-044-4-08)