L-7385 OFFICIAL NOTICE OF LEASE TERMINATION V2.DOCX

Maricopa County
Real Estate Department
Michelle Colby January 13, 2021
2801 West Durango VIA FIRST CLASS MAIL & CERTIFIED MAIL _________________________
Phoenix, AZ 85009 VIA EMAIL Chris.Latvaaho@am.jll.com
Michelle.Colby@maricop
a.gov VIA EMAIL anelson@mainstreetcapital.com
G&I IX 2700 N Central Ave, LLC
Attn: DRA Advisors LLC
575 Fifth Avenue, 38th Floor
New York, NY 10017
Subject: Official Notice of Lease Termination
Tenant: Maricopa County Library District, Maricopa County Lease No. L-7385
Property Address: 2700 N Central Avenue, Phoenix, AZ 85004
Dear Mr. Latvaaho:
As communicated to you in both the telephone call on December 1, 2020 and our subsequent Notice of
Termination letter dated December 10, 2020, as part of Maricopa County’s (County) and Maricopa County
Library District’s (District) continuing efforts to ensure that we provide fiscally responsible services for the
taxpayers, the District and County have been steadily reducing its/their footprint in leased space if staff can be
efficiently accommodated in a District or County-owned space. As such, the District staff occupying space at
2700 N Central Avenue in Phoenix, Arizona (Premises) by virtue of Lease Agreement L-7385, as amended from
time to time, by and between the District and G&I IX 2700 N Central Ave, LLC, as successor in interest to 2700
Group, LLC (collectively, the Lease), are being co-located with other District staff in a County-owned facility in
late January of 2021. Funds for the lease of the Premises are not being appropriated in the County/District’s
fiscal year 2022 budget. The County and District fiscal year ends on June 30, 2021.
At today’s District Board of Director’s (Board) meeting, the Board approved Agenda Item C-65-06-024-1-05
which approved the termination of the Lease under its Section 22. This letter serves as official notice to G&I IX
2700 N Central Ave, LLC, as Lessor, that the District will physically vacate the Premises by February 28, 2021.
In accordance with the Lease, and the laws of the State of Arizona, the District will continue to pay rent for the
space through June 30, 2021, or the date which Lessor re-rents the Premises, whichever is earlier. We will reach
out to set a time to discuss the provisions in the Lease regarding the return of the space and coordination during
the move so your efforts to re-rent the space can begin as soon as possible.
Should you have any questions regarding this notice, please do not hesitate to reach out to Deborah Fisher.
Deborah can be reached by phone at 602-506-1054 or via e-mail at Deborah.fisher@maricopa.gov.
Sincerely,
Michelle Colby, SR/WA
Director
cc: Angela Nelson, Senior Manager, Pinnacle Property Management
Jeremy Reeder, Director, Maricopa County Library District
Reid Spaulding, Deputy County Manager
Rich Wegele, Director, Facilities Management Dept.
Betsy Pregulman, Deputy County Attorney
Deborah Fisher, Real Estate Dept. Property Management Supervisor
File