HomeMy WebLinkAboutContract 35094-R3 FORT WORTH CITY sECMAKY - .
CONTRACT NO ASV t C-1 -
Cynthia Garcia (817)392-8187
Assistant Director Cynthia.B.Garcia@fomvorthtexas.gov
February 3, 2014
Sharon Renae Berry
Property Analyst
XTO Energy Inc., a subsidiary of ExxonMobil
810 Houston Street
Fort Worth, TX 76102-6298
Re: Renewal of Lease Agreement Between the City of Fort Worth ("City") and Interstate
Industrial Properties, L.P. ("Landlord") for 6,108 sf, Parking, and Outside Storage at 2222
Wenneca (the "Lease") (City Secretary Contract No. 35094)
Dear Taylor Perkins:
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This letter is to confirm City's intent to exercise the-fires renewal term of the Lease, and to
amend the City's notice address in Section 17 of the Lease. We understand from Interstate
Industrial Properties, L.P. that the property has been sold to XTO.
This letter agreement is to document that the parties agree to extend the term of the lease until
March 31, 2015, and that the rental rate during the renewal term will increase to $8.00 sf.
Also, City would like to amend the notice address listed in Section 17 of the Lease by deleting
the current City addresses and inserting the following:
All Notices to Lessee shall be sent to:
City Manager
City of Fort Worth
1000 Throckmorton
Fort Worth, TX 76102
With a copy to:
Leann Guzman
Assistant City Attorney OFFICIAL RECORD
1000 Throckmorton
City of Fort Worth CITY SECRETARY
Fort Worth, TX 76102" 1 FT. WORTH, TX
Housing and Economic Development Department
The City of Fort Worth * 1000 Throckmorton Street* Fort Worth,Texas 76102
817-392-7540* Fax 817-392-7328
RECEIVED MAY u 7 2014
t
The signatures below indicate each party's concurrence with these terms. Please sign and return
two original agreements to:
Cynthia Garcia
Housing and Economic Development
City of Fort Worth
1000 Throckmorton
Fort Worth, TX 76102
Additionally, please fill in the complete naive of the new landlord, and your notice address.
Once the agreement has been fully executed and recorded in the City Secretary's Office, we will
return one original for your files.
Sincerely
Cynthia Garcia
Assistant Director
ACCEPTED AND GREED TO LA LORD
By:
Name:
Title: g4ror(yu - ; -fnr*
Landlord Name: C.
Notice Address: n r
810 Houstdn S+.
FO F-+ U W44% "T K 77U I 0a
OFFICIAL (RECORD
CITY SECRETARY
RECEIVED APR - 3 2014 FT.WORTH,TX
The signatures below indicate each party's concurrence with these terms. Please sign and return
three original agreements to:
Cynthia Garcia
City of Fort Worth
1000 Throckmorton
Fort Worth, Texas 76102
Additionally, please fill in the complete name of the new landlord, and your notice address.
Once the agreement has been fully executed and recorded in the City Secretary's Office, we will return
one original for your files.
F T W OR H
rnando C a, S (�►
Assistant City Manager _r
APPROVED AS TO FORM AND LEGALITY:
L' ann D. Guzman,
Assistant City Attorney
Attested by:
000
Mary J. I , City Se&itwy
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-'ontract AuthoriZatiolk ;�00.
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OFFICIAL-RECORD
CITY SECRETARY
FT,WORTIi,TX
Official site of of •
CITY COUNCIL AGENDA FORTW�Q�R7FI
COUNCIL ACTION: Approved on 2/20/2007
DATE: 2/20/2007 REFERENCE NO.: C-21983 LOG NAME: 362222WENNECA
CODE: C TYPE: CONSENT HEARING: NO
SUBJECT: Authorize a Lease Agreement with Interstate Industrial Properties, L.P., for Property
Located at 2222 Wenneca Avenue for the Fire Department's Arson Division
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize the City Manager to enter into a new lease agreement with Interstate Industrial
Properties, L.P., for property located at 2222 Wenneca Avenue for the Fire Department's Arson
Division; and
2. Authorize a five-year lease agreement, contingent upon funds being appropriated each of the
five years, and authorize the renewal of the lease as necessary for up to three successive twelve-
month periods.
DISCUSSION:
On December 16, 2003, (M&C L-13729) the City Council approved the lease of 4,000 square feet for
the Fire Department's Arson Division at 2222 Wenneca Avenue. The Fire Department's Arson
Division needs to expand this location and increase the term. The department was granted four
additional positions during the 2006-2007 budget and the additional space will accommodate these
employees as well as additional equipment. A new five-year triple-net lease agreement has been
negotiated to accommodate this expansion. The base rental cost for this lease is $7.65 per square
foot, $46,726.00 annually, $3,893.85 monthly. Tenant improvements will be constructed by the
owner. The total cost of these improvements is $39,150.00, of which $21,080.00 will be assumed by
the owner, with the remaining $18,070.00 being added to and made a part of the base rent. The
current lease will be terminated in favor of the new five-year lease.
If the City terminates this lease prior to the end of the lease term, the City will be subject to a
cancellation penalty based upon the owner's unamortized tenant improvement expenses. Upon
lease commencement, the unamortized cost of improvements from the current lease will be added to
tenant improvement costs assumed by the owner in connection with the new lease and used to
create a new basis for a cancellation penalty amortization schedule. This amortization schedule
provides for a monthly declining balance to $0.00 over the five-year term of the lease.
The City will also be responsible for the payment of additional rent expenses such as property taxes,
insurance, utilities and maintenance under the terms of this lease. For the first year of the lease, the
estimated cost for the additional rent expenses will be $8,367.96 annually, $697.33 monthly.
Page 1 of 2
The base rental for the renewal terms of the lease will be $7.75 per square foot or$3,944.75 monthly
for the first renewal, $7.85 or $3,995.65 per square foot for the second renewal, and $8.00 per square
or $4,072.00 for the third renewal.
The property is located in COUNCIL DISTRICT 9, Mapsco 76G.
FISCAL INFORMATION/CERTIFICATION:
The Finance Director certifies that funds are available in the current operating budget, as
appropriated, of the General Fund.
TO Fund/Account/Centers FROM Fund/Account/C enters
GG01 539120 0362030 $46,726.00
Submitted for City Manager's Office by: Joe Paniagua (6575)
Originating Department Head: Rudy Jackson (6801)
Additional Information Contact: Rudy Jackson (6801)
ATTACHMENTS
Page 2 of 2
4 AW�
TEXAS ASSOCIATION OF REALTORS®
COMMERCIAL TENANT ESTOPPEL CERTIFICATE
USE OF THIS FORM BY PERSONS IAHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTORm IS NOT AUTHORIZED.
®Texas Association of REALTORS®,Inc.2005
A. This estoppel certificate concerns the lease described below:
Landlord: WTW Properties,Inc.
Tenant: City of Fort Worth
Leased Premises: 2222 Wenneca Ave.further detailed in Exhibit A attached hereto
Commencement Date of Lease: April 1,2007
B. Tenant certifies that:
(1) as of the date Tenant signs this certificate, neither landlord nor Tenant is in default of the lease;
(2) the monthly rent to be paid through the end of the lease is as follows: $4,072.00 base rent per month,all
other rent amounts due are indicated further in Exhibit A attached hereto
(3) the next rent payment is due
Sept 1,2014 ,
,
(4) Tenant has not paid Landlord any rent more then 30 days in advance except:
(5) Tenant deposited $ n with Landlord as a security deposit under the lease:
(6) as of the date Tenant signs this certificate, Tenant has no claim of offset against rent except for:
(7) the current term of the lease expires on March 31,2015
,
m (8) Tenant has the option to renew the lease as follows: No additional renewal terms
Parh
(9) Tenant has accepted the leased premises, is in possession of the leased premises, and all
o improvements to the leased premises have been made;
cars (10) Tenant has no ownership interest in the property in which the leased premises are located; and
►�+ (11) The Lease is in full force and effect}is valid and enforceable according to its terms against Tenant and has not
been modified,amended,supplemented or changed in any respect,either orally or in writing,except as
indicated in Exhibit A attached hereto.
Tenant understands that this certificate will be delivered to W.Martin and Company
and that this party(ies) is relying on the representations in this certificate.
Tenant: Date:
By:
Printed Name: 6e 44-
Title:
(TAR-1938)10-1&05 Page 1 of 1
CG&Associates Realty Advisors LLC 5508 W.Plano Parkway f1BPlano,TX 75093
Phone:(214)403-8911 Fax: (214)291-5680 Chitra Gupta BUYER
Produced with ZlpForrn'm by RE FormsNet,LLC 18026 Fifteen Mile Road,Clinton Township,Michigan 48035 www.zpform.com
Exhibit A
Lease Documents
1. Lease Agreement entered into as of March 21, 2007, now under lease between WTW
Properties, Inc. and City of Fort Worth