Item:
Title
Approve Lease Agreement Between Bakers Dozen LLC and Durham County at Shoppes at Hope Valley for a 10-year term, with an Annual Lease Amount of $30,250 and Annual Common Area Maintenance in the Amount of $4,875, with Other Terms as Noted in the Attached Lease Agreement
Body
Date of BOCC Meeting: April 14, 2025
Request for Board Action:
Agenda Text
The Board is requested to approve a lease agreement between Bakers Dozen LLC and Durham County at 3825 S. Roxboro Road Suite 150 at the Shoppes at Hope Valley for a 10-year term, with an annual lease amount of $30,250 with a 3 percent annual escalation rate, and annual Common Area Maintenance fee of $4,875, with other terms as noted in the attached lease agreement.
Baker's Dozen has submitted a Letter of Intent to lease 1625 square feet of vacant space at the Shoppes of Hope Valley to relocate from their current location on Highway 98. The proposed lease is for ten years. Any renewal of the lease beyond that period is subject to negotiation.
Landlord shall provide $10,000 in a tenant improvement allowance to upgrade the space. This allowance will be paid 45 days after tenants open for business, inspection of work is completed and receipt of copies of any plans, permits and a signed lien waiver.
Alignment with Strategic Plan: This item aligns with Strategic Plan Goal: Sustainable Infrastructure & Environment Plan for long-term use of County land, facilities, and equipment.
Resource Persons: Nancy Mitchell, Senior Real Estate Officer; Peri Manns, Deputy Director Engineering and Environmental Services; Jay Gibson, Director, Engineering and Environmental Services; Julio Delgado, Assistant County Manager.
County Manager's Recommendation: The County Manager recommends that the Board approve a lease agreement between Bakers Dozen LLC and Durham County at 3825 S. Roxboro Road Suite 150 at the Shoppes at Hope Valley for a 10-year term, with an annual lease amount of $30,250 with a 3 percent annual...
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