Title
Introduction of Ordinance Approving a Second Amendment to a Lease and Authorizing the City Manager to Execute Documents Necessary to Implement the Terms of the Second Amendment to a Lease with Advanced Roofing Services, Inc. for Twenty-Four Months at 1450 Viking Street, Building 612, at Alameda Point. [Requires Four Affirmative Votes] (Base Reuse 819099)
Body
To: Honorable Mayor and Members of the City Council
From: Eric Levitt, City Manager
EXECUTIVE SUMMARY
This action will introduce an ordinance extending the lease term for Advanced Roofing Services, Inc. (Advanced Roofing) for an additional 24 months for a monthly lease amount of $3,200 - $3,295 for a 4,000 square foot building and parking area in the Enterprise District at Alameda Point (1450 Viking Street).
BACKGROUND
Advanced Roofing provides re-roofing, water-proofing, repair/maintenance and gutter services. In 2014, Advanced Roofing moved into Building 612, which is located at Alameda Point and is shown on the attached map (Exhibit 1). The term of the current lease expires on May 31, 2019, and this lease amendment is intended to retain an existing tenant. This second amendment extends the term of the current lease by twenty-four (24) months. While Building 612 is in the Enterprise District, the two-year term and building location is not expected to be a hindrance to future development opportunities. The second amendment, first amendment, and original lease are attached as Exhibits 2 - 4.
DISCUSSION
The premises are currently being used as a warehouse and administrative office for a roofing services and materials company. The property consists of approximately 4,000 square feet of rentable space with adjacent parking in front.
Under this second amendment to the lease, the rent will be $3,200 per month for year one and $3,295 per month for year two. The second amendment retains the original lease's standard insurance, indemnity, assignment and termination clauses, which the City of Alame...
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