Title:
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Approve and authorize the Chairman to execute the Second Amendment to Wilshire Plaza, Phase II Lease which extends the lease for a term of three (3) years through September 30, 2028. The annual rent will increase by $5,250, bringing the total annual rent to $48,000. District4 - Lockhart (Stephen Koontz, Resource Management Deputy Director)
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Division:
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Resource Management - Real Estate
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Authorized By:
Shane Fischer, Real Estate Division Manager
Contact/Phone Number:
Shane Fischer/407-665-7414
Background:
On September 24, 2019, the Board of County Commissioners approved the Wilshire Plaza, Phase II Lease with Crystal Bay Club, LLC for 3,000 square feet of office space, for the Clerk of Court, located at 336 Wilshire Boulevard, Casselberry, FL 32707. The lease became effective on October 1, 2019, for a term of two (2) years with an option to renew for two (2) successive periods of two (2) years each. First Renewal renewed the lease for the term of two (2) years from October 1, 2021 through September 30, 2023 with one (1) remaining renewal option of two (2) years. First Amendment and Final Renewal renewed the lease for the final two (2) year term from October 1, 2023 to September 30, 2025.
The proposed Second Amendment extends the lease for three (3) years with no renewal options. The lease will go into effect on October 1, 2025. Starting October 1, 2025, the monthly rent is set to increase to $4,000 or $48,000 per year. Section 8 of the agreement is amended to clarify the responsibility of replacement of the HVAC units. County may terminate this lease with a ninety (90) days’ written notice to the Landlord.
Requested Action:
Staff requests the Board approve and authorize the Chairman to execute the Second Amendment to Wilshire Plaza, Phase II Lease.