Item:
Title
Lease Amendment for Angie's Jamaican Grill at 3825 S Roxboro Rd. Suite 123 at the Shoppes of Hope Valley Shopping Center
Body
Date of BOCC Meeting: May 13, 2024
Request for Board Action:
Agenda Text
The Board is requested to approve a lease amendment for Angie's Jamaican Grill, a tenant at 3825 S. Roxboro Road, Suite 123 at the Shoppes of Hope Valley Shopping Center to extend the lease term through August 31, 2030. The original term of the Lease expires on August 31, 2025, and provides for a Three (3) year option to extend the Lease through August 31, 2028. This request is to extend the term of the current lease through August 31, 2030. No other terms or conditions of the lease are modified by this amendment.
The Tenant has determined that they need to invest in updating the ventilation hood as well as make other needed improvements to update the space and are prepared to make these expenditures imminently. They have requested an extension of the lease term through August 31, 2030, to ensure their business can remain in the space long enough to realize a return on the investment being made.
The requested amendment extends the current lease for a period of 6 years and 4 months. The amended lease term will begin on May 1, 2024, and end on August 31, 2030. There is one other tenant at the Shoppes of Hope Valley whose current lease extends through December 31, 2037.
Alignment with Strategic Plan: The attached Lease Amendment supports Goal 1 "Community Empowerment and Enrichment," and Goal 5 "Accountable, Efficient and Visionary Government".
Resource Persons: Nancy Mitchell, Senior Real Estate Officer; Peri Manns, Deputy Director of E&ES; Jay Gibson, Director E&ES.
County Manager's Recommendation: The County Manager recommends that the Board approve a lease amendment for Angie's Jamaican Grill, a tenant at 3825 S. Roxboro Road, Suite 123 at the Shoppes of Hope Valley Shopping Center to extend the lease term through August 31, 2030....
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