Title
Introduction of Ordinance Approving a Lease and an Option to Purchase and Authorizing the City Manager to Execute Documents Necessary to Implement the Terms of a 10-Year Lease and Option to Purchase with Natel Energy, Inc., a Delaware Corporation, for Building 23 located at 2401 Monarch Street at Alameda Point. (Base Reuse 819099)
Body
To: Honorable Mayor and Members of the City Council
From: Elizabeth D. Warmerdam, Interim City Manager
Re: Introduction of an Ordinance Approving a Lease and Authorizing the City Manager to Execute Documents Necessary to Implement the Terms of a 10-Year Lease and Option to Purchase with Natel Energy, Inc., a Delaware Corporation, for Building 23 located at 2401 Monarch Street at Alameda Point
BACKGROUND
Natel Energy, Inc. (Natel) designs and manufactures innovative hydropower systems that generate renewable energy. The premises at Building 23 will be used as office, research and development, and light manufacturing.
With funding from the United States Department of Energy and the Small Business Innovation Research Program, Natel has been allowed to grow and commercialize their invention, thus prompting their expansion and relocation.
Together, with existing clean energy companies like Wrightspeed, Makani Power, Saildrone, and Kai Concepts, Natel is creating a niche for the clean tech industry at Alameda Point. Much like Spirit's Alley, the City greatly welcomes this clean tech cluster that is growing on the base.
DISCUSSION
Natel previously occupied Building 400A and currently occupies Building 19 at Alameda Point under a license agreement ending in December of this year. At Buildings 400A and 19, Natel quickly grew from 4 to 20 employees. At their new location at Building 23, Natel is expected to expand to approximately 150 employees.
Building 23 consists of approximately 65,000 square feet of rentable space with adjacent parking in front of the premises. The current rent is $29,250 per...
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