PLACEMENT: Consent
TITLE:
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APPROVAL AND ACCEPTANCE OF AN OFFICE LEASE FOR BUILDINGS 29 AND 30 AT THE MARTIN COUNTY AIRPORT TO LIBERATOR MEDICAL SUPPLY, INC.
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EXECUTIVE SUMMARY:
executive summary
This is a request for the approval and acceptance of an Office Lease for Buildings 29 and 30 at the Martin County Airport/Witham Field to Liberator Medical Supply, Inc. (Liberator).
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DEPARTMENT: Public Works
PREPARED BY: Name: Carla T. Segura, FRP
Title: Real Property Manager
REQUESTED BY: Sam Carver, Airport Manager
PRESET:
PROCEDURES: None
BACKGROUND/RELATED STRATEGIC GOAL:
1. Airport Office Lease prepared by: Martin County
2. Parties to the Lease: Martin County - Lessor
Liberator Medical Supply, Inc. - Lessee
3. Purpose of the Office Space Lease: Provide Airport Enterprise Fund with revenue
4. New/Renewal/Modification: New
5. Duration: 3 years with one (1) two (2) year renewal period
6. Benefits to Martin County: Assist the Airport Enterprise Fund to be self-sustaining
7. Cost to Martin County: None
Building 30 is a 24,000 sq. ft. one story office building that was built in the late 1980s and was first leased by Liberator in 2009. Building 29 is a 6400 sq. ft., one-story office building and was first leased by Liberator in 2012. Both Buildings are located in the "OFFICE" area within the Airport Master Plan.
In 2017, it was determined that a combined lease including Buildings 29 and 30 should be created to better serve the Lessee. Liberator was chosen as the winning bidder and that lease expires on September 30, 2022.
An appraisal of the property was obtained to determine the current market rental value. The market gross rental rate was determined to be $8.00 per square foot or $243,200.00 annually.
Liberator was chosen as the successful bidder of the three (3) year lease with one (1) two (2) year option for renewal, to commence on October 1, 2022 and end September 30, 2025. The Lease includes separate ...
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