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OTHER-2023-008 1st Lease modification agreement and exercise of option - Europa Center
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OTHER-2023-008 1st Lease modification agreement and exercise of option - Europa Center
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Last modified
3/3/2023 10:06:59 AM
Creation date
3/3/2023 10:05:58 AM
Metadata
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BOCC
Date
2/7/2023
Meeting Type
Business
Document Type
Others
Agenda Item
8-h
Document Relationships
Agenda - 02-07-2023; 8-h - Two-Year Extension of the Lease for Suite 101 in the Europa Center
(Attachment)
Path:
\Board of County Commissioners\BOCC Agendas\2020's\2023\Agenda - 02-07-2023 Business Meeting
Agenda for February 7, 2023 BOCC Meeting
(Attachment)
Path:
\Board of County Commissioners\BOCC Agendas\2020's\2023\Agenda - 02-07-2023 Business Meeting
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TYPE OF LEASE . ❑ New ❑ Extension ❑ Expansion X Option ❑ Change/Adj . <br /> BUSINESS NAME : Orange County <br /> TENANT . Orange County <br /> CONTACT : Alan Dorman <br /> Email : adorman@orangecauntync , gov <br /> Phone: 9I 9 . 619 .8859 <br /> PROPERTY ADDRESS : The Europa Center - Suite 101 , 100 Europa Dr . , Chapel Hill , NC 27517 <br /> UROPA CENTER, LLC <br /> LANDLORD : E <br /> NOTICE ADDRESS ; AVISON YOUNG — NC , L.LC 100 Europa Dr Suite 190 , Chapel Hill, NC 27517 <br /> EXTENSION TERM : 24 Months RENTABLE So . FTG : l0 , 615 <br /> MODIFICATION SIGNED : , 2022 EFFECTIVE: Upon execution <br /> RENT COMMENCES : See below SECURITY DEPOSIT : None <br /> LEASE EXPIRES : February 28 , 2025 OPER. EXP. BASE YEAR: 2020 <br /> RENT ADJUSTMENTS : See below <br /> Option Term` # of Months Start Date End Date SF PSF Rate $/Month Total $ <br /> 1 12 .00 03/01 /23 02/29/24 10 ,615 $22 .95 $20 ,298 ,77 $2431585 .24 <br /> 1 12 .00 03/01 /24 02/28/25 10,615 $23 .64 $ 201907 .73 $250 ,892 .80 <br />
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