title
Resolution Authorizing a New Lease on the Seventh Floor of Skyline Center to Beacon Technologies, Inc.
body
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Department: |
Economic Development |
Meeting Date: |
6/17/2025 |
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Contact Name: |
Aubrey Parsley |
Public Hearing: |
No |
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Contact Phone: |
910-200-8382 |
Advertising Date/Advertised By: |
5/16/2025 |
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Attachments: |
Attachment #1: Resolution |
PURPOSE:
The purpose of this resolution is to authorize the City Manager to enter a new lease for a portion of the seventh floor of 929 N. Front Street (“Skyline Center”).
BACKGROUND:
This resolution is for a new lease agreement with Beacon Technologies, Inc. (“Tenant”) as the proposed lessee. The lease is for portion of the seventh (7th) floor of the Skyline Center, and includes 3,623 square feet of space. The initial term of the lease will be three (3) years, with two (2) options for one (1) year extensions. The average annual rent for the duration of the lease, including potential extensions, is $88,475.
budget
BUDGET IMPACT:
Average annual revenue of $88,475 for the total duration of the lease is anticipated.
recommendation
RECOMMENDATION / ACTION REQUESTED:
Passage of the resolution is recommended.