title
Resolution Authorizing the City Manager to Enter into a New Lease on the Fourth Floor of the Skyline Center with The Honorable Ted Budd, United States Senator
body
Department:
Asset & Property Management
Meeting Date:
7/21/2026
Contact Name:
Courtney Salgado
Public Hearing:
No
Contact Phone:
910-341-1008
Advertising Date/Advertised By:
6/12/2026 - StarNews
Attachments:
Attachment #1: Resolution
PURPOSE:
The purpose of this resolution is to authorize the City Manager to enter into a new lease on the 4th floor of the Skyline Center with The Honorable Ted Budd, United States Senator.
BACKGROUND:
Attached for your consideration is a resolution authorizing the City Manager to execute a new lease agreement for 1,249 square feet of space on the 4th floor of the Skyline Center to The Honorable Ted Budd, United States Senator ("Tenant"). The leased premises will be used as a constituent services office. Leasing a portion of this space to a governmental entity provides an opportunity to generate revenue while supporting the provision of constituent services to area residents.
City staff negotiated a mutually agreeable lease with an initial term of thirty (30) months. The agreement includes a Tenant improvement allowance of $48,418.15 toward the total cost of required upfits to the leased premises. Under the proposed lease, the Tenant will pay annual rent of approximately $97,704.89. The rental rate includes an amortized amount to reimburse the City for space improvements funded by the City and constructed to accommodate the Tenant's operational needs. The total amount to be recovered for these improvements over the lease term is approximately $123,380.23.
Pursuant to the City's brokerage agreement, the proposed lease will require payment of a commission to Cape Fear Commercial, LLC totaling $4,846.03, calculated as four percent (4%) of the aggregate rent payable under the lease, excluding amortized amounts.
budget
BUDGET IMPACT:
The annual ren...
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