Interoffice Memorandum
DATE: December 16, 2024
TO: Mayor Jerry L. Demings and County Commissioners
THROUGH: Mindy T. Cummings, Manager
FROM: Ana Alves, Program Manager
CONTACT: Mindy T. Cummings, Manager
PHONE: 407-836-7090
DIVISION: Real Estate Management Division
ACTION REQUESTED:
title
Approval and execution of Tenth Amendment to Lease Agreement by and between Piedmont 200 & 250 South Orange Avenue, LLC and Orange County, Florida, and authorization for the Manager of the Real Estate Management Division to exercise all delegations of authority expressly provided for under the Lease, as needed for Property Appraisal and Tax Collector Offices at SunTrust, 200 South Orange Avenue, Suites 1500, 1600 and 1700, Orlando, Florida 32801. Lease File 2007. District 5. (Real Estate Management Division)
body
PROJECT:
Property Appraisal and Tax Collector Offices at SunTrust
200 South Orange Avenue, Suites 1500, 1600, and 1700
Orlando, Florida 32801
Lease File 2007
PURPOSE: To continue to provide office space for the Property Appraiser and Tax Collector.
ITEM:
Tenth Amendment to Lease Agreement
Term: Five years
Cost:
Year 1 - $149,975.46 base rent per month
Year 2 - $154,495.26 base rent per month
Year 3 - $159,138.34 base rent per month
Year 4 - $163,904.70 base rent per month
Year 5 - $168,865.40 base rent per month
Options: One, five-year renewal
Size: 49,307 square feet
BUDGET: Account No.: 0001-043-0201-3620
REVENUE: None
FUNDS: N/A
APPROVALS: Real Estate Management Division
REMARKS: Under the Lease approved by the Board on June 27, 1995, as amended and extended, the County currently leases 49,307 square feet of office space for the Property Appraiser and Tax Collector at the SunTrust Building located at 200 South Orange Avenue, Suites 1500, 1600 and 1700, Orlando, Florida 32801. This Tenth Amendment to the Lease Agreement extends the Lease for an additional five years and includes an option for one more five-year renewal. The amendment also provides for a tenant allowance for improvements to the space.
All other terms and conditions of the Lease shall remain in effect.