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Resolution Authorizing a New Lease on the Seventh Floor of the Skyline Center to Synply, Inc.
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Department: |
Economic Development |
Meeting Date: |
9/23/2025 |
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Contact Name: |
Aubrey Parsley |
Public Hearing: |
No |
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Contact Phone: |
910-200-8382 |
Advertising Date/Advertised By: |
8/22/2025 |
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Attachments: |
Attachment #1: Resolution |
PURPOSE:
The purpose of this resolution is to authorize the City Manager to enter into a new lease for a portion of the seventh floor (7th) of 929 N. Front Street (“Skyline Center”) to Synply, Inc.
BACKGROUND:
Attached for your consideration is a resolution authorizing the City Manager to negotiate and execute a new lease agreement for space on the 7th floor of the Skyline Center. The premises included in the lease include 3,225 square feet of space. Synply, Inc. (“Tenant”) is the proposed lessee.
City Council recently authorized a new lease on the fourth floor of the Skyline Center to the Tenant on July 15, 2025. However, the Tenant now desires to occupy more space in the building, so the lease for the fourth floor was electively not executed in favor of pursuing the lease contemplated in this resolution.
City staff have been in discussion with the Tenant to reach a mutually agreeable lease, which consists of an initial term of five (5) years, along with one option to renew for an additional three (3) years. The annual rent will average $123,408 over the duration of the lease (including the potential extension).
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BUDGET IMPACT:
The City will receive an average of approximately $123,000 in annual revenue from the lease.
recommendation
RECOMMENDATION / ACTION REQUESTED:
Passage of this resolution is recommended.