Agenda 02/26/2008 Item #16F 1
Agenda Item No. 16F1
February 26, 2008
Page 1 of 4
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EXECUTIVE SUMMARY
Recommendation to approve a Fifth Amendment To Lease Agreement with Gulf
Shore Associates, Limited Partnership, for the continued use of office space by
the Pelican Bay Services Division at a first year's annual rent and Common Area
Maintenance fees of $33,588.
OBJECTIVE: To continue leasing office space for the Pelican Bay Services Division
with Gulf Shore Associates, Limited Partnership (Landlord).
CONSIDERATIONS: Since 1986, Collier County has leased 1,039 square feet of
office space within the SunTrust Building at 801 Laurel Oak Drive, Suite 605 for the
Pelican Bay Services Division's (Tenant) administrative offices. This location was
selected in order to maintain an on-site presence within the Pelican Bay community and
maximize Tenant's ability to service its customers.
The current lease term expires on February 28, 2007, and the Tenant requests that the
County renew its Lease at the subject property for an additional three years with a three
year extension option. The renewal period will run through February 28, 2011, under the
same terms and conditions as the original Lease Agreement and subsequent
Amendments, except that the annual rent will be $21,588 with a monthly Common Area
,-- Maintenance cost of $1,000. Following the first full year of the renewal term, the rent
shall be increased by four percent annually from the previous year's rent. The County
has the right to terminate this Lease, at any time, without penalty, by providing written
notice to the landlord.
The County Attorney's Office and Pelican Bay Services Division have reviewed and
approved the attached Fifth Amendment to Lease Agreement.
FISCAL IMPACT: The Fiscal Year 07/08 annual rent of $21,588.00, plus annual CAM
in the amount of $12,000.00, will be paid from the following accounts: 33% from
Pelican Bay Services Division Fund 109-182601, 34% from Pelican Bay Services
Division Fund 109-182900, and 33% from Pelican Bay Street Lighting Fund 778.
GROWTH MANAGEMENT IMPACT: There in no impact to the Growth Management
Plan.
RECOMMENDATION: That the Board of County Commissioners approves the
attached Fifth Amendment to Lease Agreement with Gulf Shore Associates, Limited
Partnership, and authorize its Chairman to execute the Amendment on behalf of the
Board.
PREPARED BY: Michael Dowling, Senior Property Management Specialist,
_. Real Estate Services I Department of Facilities Management
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Agenca Item NQ. I Si=1
F9bruary 26, 2008
Page 2 of 4
COLLIER COUNTY
BOARP OF COUNTY COMMISSIONERS
Item Number: 16F1
Item Summary: Recommendation to approve a FIfth Amendment To Lease Agreement with Gulf Shore
AssOCiates, Limited Partnership, for the continued use of office space by the Pelican Bay
Services Division at a first years annual rent and Common Area Maintenance fees of
$33588
Meeting Date: 2i26i2008 90000 AM
Prepared By
Michael H. Dowling Property Management Specialist Date
Administrative Services Facilities Management 2/8/200812:55:51 PM
Approved By
Toni A. Mott Real Property Supervisor Date
Administrative Services Facilities Management 2/11/20084:00 PM
Approved By
Skip Camp, C.F .M. Facilities Management Director Date
Administrative Services Facilities Management 2/12/20084;20 PM
Approved By
OMS Coordinator Applications Analyst Date
Administrative Services Information Technology 2!13f2008 10:43 AM
Approved By
John A. Yonkosky Utility Billing DirectDr Date
Public Utilities UBCS 2/13/200811 :38 AM
Approved By
James- V. Mudd Coumy Manager Date
Board of County
Commtssioners County Manager's Office 2/13/200811:47 AM
file://C:\AgendaTest\Export\ 10 ]-Februarv%2026. %202008\ 16.%20CONSENT%20AGEND... 2/20/2008
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. ,L,genda itei~'i r'b. 1 G 1
rebiL:3i\i 26. 20 8
Lease #744 r'age 3 0 4
FIFTH AME;.JDMENT TO LEASE AGREEMEI'T
THIS fIFTH AME;.JDMENT TO LEASE AGREEMENT entered into this day of
, 2008 at :\apJes. Collier County, Florida by and between Gulf Shore
Associates, Limited Partnership, whose address is 1300 Post Road East, V/cstport, Connecticut
06880, hereinafter referred to as "LESSOR", and COLLIER COUNTY, a political subdivision of
the State of Florida, \vhose mailing address is 3301 East Tamiami Trail, Naples, Florida 34112,
hereinafter referred to as "LESSEE",
WITNESSETH
WHEREAS. Collier County and Gulf Shore Associates have previously entered into a Lease
Agreement dated March 31, 1992, an Amendment to Lease Agreement dated February 6, 1996, a
Second Amendment 10 Lease Agreement dated February 25. 2003, a Third Amendment to Lease
Agreement dated April 27. 2004, and a Fourth Amendment to Lease Agreement dated February J4,
2006.
WHEREAS. the LESSOR and LESSEE are desirous of amending the Lease Agreement,
Amendment To Lease Agreement, Second Amendment to Lease Agreement, Third Amendment to
Lease Agreement, and the Fourth Amendment to Lease Agreement, and
NOW THEREFORE, in consideration of the covenants and agreements provided within said Fourth ,
Amendment to Lease Agreement dated February 14, 2006, and Ten Dollars ($10.00) and other I
valuable consideration, said Lease Agreement is hereby amended as follows:
1. The following provision shall be added to Article 2 of the Amendment to Lease Agreement:
This Lease is hereby extended until February 28. 2011, hereinafter referred to as 'Renewal
Lease Term: LESSEE hereby acknowledges that LESSOR has provided response to its request to
extend the Lease lr.:rm.
LESSEE shall have the right to renew this lease, following the February 28.20] J, Renewal
Ll:ase Term, for one (1) additional teml 011hree (3) years, hereinafter referred to a 'Option Term'.
LESSEE shall have the right, however. to terminate this Lease. with or without cause. by
providing 180 day prior written notice of such h.:rmination to LESSOR 0.1 the address set forth
above. Said notice period shall be effective upon receipt by LESSOR of lhe vvritten notice.
The hase rent for the period of February 29, 2008, to February 28, 2009, shall be $1,799.00
per month. The base rent for each year fullowing the first year of the Renevva! Lease Term shall be
increased by four percent, compounded. each year throughout the life of the Renewal Lea'll' Term
and Option Term. The LESSEE is tax exempt.
The Common Area Maintenance ('CAM') fees commencing as of March 1,2008 shall be
$1.000.00 per month. If LESSOR is required to increase the CAM during the life of this Lt:ase, the
Ll.::SSOR shall notify LESSEE, in ""'Titing, of any increase ~.' March 31 of each year throughout the
life of the Lease.
2. Except as expressly provided herein, the Lease Agreement between Gulf Shore Associates,
Limited Partnership and Collier County, a political subdivision of the State of Florida, for the
utilization of the Demised Premises described in said Lease Agreement dated March 31, 1992
remains in full f{)rcc and effect according to the terms and conditions contained therein. and said
tcrms and conditions are applicable hereto except as expressly provided otherwise herein.
, . i\genda item NO.1 F1
Fsbruary 26,2 08
Page 4 f4
IN WITNESS WHEREOF, the LESSOR and LESSEE have hereto executed this Fifth
Amendment to Lease Agreement the day and year first above written.
AS TO THE LESSEE:
DATED:
BOARD OF COUNTY COMMISSIONERS.
ATTEST: COLLIER COUNTY. FLORIDA
DWIGIIT E. BROCK, Clerk
BY: BY:
Deputy Clerk
AS TO THE LESSOR: GULF SHORE ASSOCIATES,
LIMITED PARTNERSHIP
DA TED: by its General Partner, Pequot Capital South, Inc., a
Florida corporation
BY:
'"~. ALBERT 1. KLEBAN, President
Witness (Signature)
(Print Name)
\Vitness (Signature)
(Print Name)
Approved as to form and legal sufficiency:
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