DEPARTMENT
Real Estate and Asset Management
REQUESTED ACTION (Identify appropriate Action or Motion, purpose, cost, timeframe, etc.)
title
Request approval of a Resolution of a Lease Agreement between Fulton County, Georgia (tenant) and PDA Atlanta LPIV, LLC, a Delaware limited liability company (Landlord) for the purpose of leasing warehouse space to consolidate all Fulton County warehouse operations into a single warehouse facility that is under construction on state route 92 (Campbellton Fairburn Road), Union City, Fulton County, Georgia; authorizing the Chairman to execute a Lease Agreement and related documents; authorizing the County Attorney to approve a Lease Agreement and related documents as to form and to make any modifications thereto prior to execution; and for other purposes. Subject to the provisions of O.C.G.A. ? 36-60-13(a), this Lease shall be for a term of approximately fourteen (15) years and ten (4) months inclusive of annual permitted renewal options Rent is $325,000.00 per month with annual increases as specified in the Lease Agreement.
REQUEST APPROVAL OF A RESOLUTION APPROVING A LEASE AGREEMENT BETWEEN FULTON COUNTY, GEORGIA ("TENANT") AND SOUTHPOINT FARMS LPIV, LLC, A GEORGIA LIMITED LIABILITY COMPANY ("Prime Lessee"), SOUTHPOINT FARMS VERTICAL PIV1, LLC, A DELAWARE LIMITED LIABILITY COMPANY ("PIV SUBLESSEE"), and SOUTHPOINT FARMS VERTICAL DP, LLC, A DELAWARE LIMITED LIABILITY COMPANY ("DP SUBLESSEE") (PRIME LESSEE, PIV SUBLESSEE and DP SUBLESSEE COLLECTIVELY "LANDLORD") FOR THE PURPOSE OF LEASING WAREHOUSE SPACE TO CONSOLIDATE ALL FULTON COUNTY WAREHOUSE OPERATIONS INTO A SINGLE WAREHOUSE FACILITY THAT IS UNDER CONSTRUCTION ON STATE ROUTE 92 (CAMPBELLTON FAIRBURN ROAD), UNION CITY, FULTON COUNTY, GEORGIA; AUTHORIZING THE CHAIRMAN TO EXECUTE A LEASE AGREEMENT AND RELATED DOCUMENTS; AUTHORIZING THE COUNTY ATTORNEY TO APPROVE A LEASE AGREEMENT AND RELATED DOCUMENTS AS TO FORM AND TO MAKE ANY MODIFICATIONS THERETO PRIOR TO EXECUTION; AND...
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