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 charges for CAM Fees and Security Fees. All of which are detailed in Exhibit “A” of the Lease.
The Martin County Airport is an Enterprise Fund Entity which is responsible to pay its operational expenses out of income generated at the Airport. The major income at the Airport is generated from rents of real estate and the sale of fuel for aircraft.
Section 32.1 of the Lease requires FAA approval. The Airport Manager will process a request for FAA review if the BCC approves the lease.
ISSUES:
None
LEGAL SUFFICIENCY REVIEW:
This item has been reviewed for legal sufficiency to determine if it is consistent with applicable law, has identified and addressed legal risks, and has developed strategies for legal defensibility.
RECOMMENDED ACTION:
RECOMMENDATION
Move that the Board accept and approve the Airport Office Lease, for Buildings 29 and 30, with Liberator Medical Supply, Inc. and authorize the Chairman to execute any and all documents necessary to complete this transaction.
ALTERNATIVE RECOMMENDATIONS
Pull this item and provide staff with alternate recommendation.
FISCAL IMPACT:
RECOMMENDATION
None
ALTERNATIVE RECOMMENDATIONS
None
DOCUMENT(S) REQUIRING ACTION:
☐Budget Transfer / Amendment ☐ Chair Letter ☒Contract / Agreement
☐Grant / Application ☐Notice ☐Ordinance ☐Resolution
☐Other:
This document may be reproduced upon request in an alternative format by contacting the County ADA Coordinator (772) 320-3131, the County Administration Office (772) 288-5400, Florida Relay 711, or by completing our accessibility feedback form at www.martin.fl.us/accessibility-feedback <http://www.martin.fl.us/accessibility-feedback>.