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Home My WebLink About1990-06-12 - AGENDA REPORTS - CITY YARD (2)AGENDA REPORT City Manager Approval Item to.be presented NEW BUSINESS John E. Medina DATE: June 12, 1990 SUBJECT: CITY YARD DEPARTMENT: Public Works/(A BACKGROUND The Public Works Department, with the assistance of Coldwell Banker .Real Estate services, have conducted a study to evaluate potential sites for a City Yard. This study included a newspaper notice requesting anyone interested in selling or leasing an improved site in the area. A report prepared by Coldwell Banker (see attachment I) enabled staff to narrow the long list of potential sites to the following three locations: • Valencia Industrial Center (Satellite Truck Body) • Saugus Station Industrial Center (Thatcher Glass) • Recently purchased City Hall Site A central location would be better suited and more flexible in addressing changing service needs as the City grows. Consequently, buildings in the vicinity of Golden Valley were considered, however, they were determined to be insufficient in size. Thatcher Glass and the recently purchased City Hall site are also centrally located and preferable from that aspect. However, it was found -that both of these sites would require substantial modifications to make the building or site ready for the City's intended use. Additionally, the time period for developing the City property site and legal access are serious obstacles. Therefore, the Satellite Truck Body building can be more readily modified and at a lessor price than either of the two other sites. Hughes, Heiss & Associates conducted a space study for the City's Corporate Yard and determined that there is an initial need for a 30,000 square foot building and 3.3 acres of land. Staff members from Parks & Recreation and Public Works departments have visited the site on numerous occasions to examine its suitability. After considering space requirements, total cost to occupy the site and location, the Satellite Truck Body building in the Valencia Industrial Center, located at 25663 Avenue Stanford, is the recommended City Yard site. The property is being offered for either sale or lease. Staff has been in contact with the owner to determine the lease price. Coldwell Banker, on behalf of the owner, submitted a proposal to the City on February 7, 1990 (see attachment II) to lease the entire site, a 61,500 square -foot building, on approximately four acres of land, for $27,060 per month. On March 20, 1990, a second proposal (see attachment III) was submitted to lease a 40,000 square -foot portion of the building for $18,260 per month, plus taxes, insurance and maintenance costs. The lease cost.is still being negotiated. Continued To: Agenda 11ern:_q Page 2 Another alternative would be for the City to purchase the SatelliteTruck Body property which is being offered at $3,750,000. The following is a list of advantages and disadvantages that should be considered in determining whether to lease or buy: I. LEASING Advantages • Capital expenditure is minimal compared to buying. • Low risk investment. • Generally more flexible than buying. • An agreement could be negotiated to require the owner to improve the building for the City's intended use in order to comply with building and zoning codes as a result of a change in use. Disadvantages • Monthly rent that is spent cannot be recaptured by the value of the real estate. • No control over property. The City. would not be allowed to be a party to approving a sublease for the remaining portion of the building. • Monthly cost to lease is expensive when including property taxes and insurance; however, the payment of property taxes are a negotiable item. • Owners proposal is not a fixed lease and is subject to increase after the 19th month. • Capital expenditures for improving the property would not be recovered by the lessee (City). II. PURCHASE Advantages • A sound real estate investment in the Santa Clarita Valley. • The City would have the option of leasing, saleback lease or selling the building. • The City has the option of -subleasing a portion of the building. • The City would have complete control over the use.of the property. Disadvantages • Capital expenditure to purchase the property would reduce the City reserve fund. • The City may incur costs to upgrade the building to conform with building and zoning codes as a result of a change in use. • Page 3 Staff will continue to negotiate and then analyze and compare the lease vs. purchase of the property. The final analysis and financial impact will be presented to Council for its review and determination. Staff recommends that: 1) The Council approve in concept the Satellite Truck Body Company building for the City Corporate Facility. 2) The Council provide direction to staff to proceed with negotiations on a final lease or purchase proposal and return it to. the Council for its review. ATTACHMENTS Attachment I - A Coldwell Banker report dated May 1, 1990. Attachment II - Proposal No. 1 dated February 7, 1990. Attachment III - Proposal No. 2 dated March 20, 1990. 68 COLDWem CITY OF SANTA CLARITA CITY YARD REQUIREMENT Prepared for : i KEN PULSKAMP JOHN MEDINA MAY 1, 1990 Prepared by: DOUG SONDEREGGER LEWIS HORNE BARBARA VESSADINI (818)907-4600 RECEIVED MAY 0 4 1990 PUBLIC WORKSGEPARTOfNT CITY OF SANTA CIARITA COLDWELL BANKER COMMERCIAL REAL ESTATE SERVICES 15301 Ventura Boulevard, Sherman Oaks ATTACHMENT I • Lkensed TMWOmlNYnaCewIRaOwn OMainaOkpm weawhbalievr Mode. uses we Eh examM only we M1arargl Nnle a nen mau MPrfanna deemmydmp,. The value Bbchthu naswmn WWW wield antax aharmmlisrs vha vWf pMnaea Alrypajedionaadil.. aswmgionaaesllmeaa uae0nalaa®mpeonryanO EOMnDl9aaMlM1ecurrenl mlWurepeEwlnaMedlM1epmpeny..TM1evalueMNiatAnfagiCnWyaah.,.,,son laxanCMMrleclonwM1icn Should M wduNeE q your lex, Ilnanciel end agW aanwrs. you anE your eEviaoreanOWE wnead a carelW, InEepeMml imcsligavi n Oona pmpony meedrmine lO ydxsalislatlion ma aone011ih OI Ina prppeny lOryour neaOa. CGCG 202.7199 speregmt/com2 /I SUMMARY OF ESTIMATED SPACE REQUIREMENTS SANTA CLARITA CORPORATION YARD 1. NET SQUARE FEET BY UNIT/FUNCTION Function Inside Outside Net Int. Circ. Gross Net Circ. Gross So• Ft• Factor So• Ft• So• Ft• Factor So• Ft• Administration 1,350 35% 1,850 2,880 - 2,800 Traffic Signals 800 25% 1,000 2,540 10% Some 2,590 Functions Traffic Painting/ 2,120 25% 2,650 2,800 - 2,800 Signs Street Sweeping - - - 3,675 3,675 Street Maintenance 600 25% 750 13,930 10% Some 14,378 Functions Channel/Storm 600 25% 750 3,710 3,710 Drain Maintenance Vehicle Maintenance 9,170 25e% 11,500 8,880 10% Some 9,480 Functions Park Maintenance 2,370 25°% 2,970 10,640 10% Some 10,745 Functions Employee 2,980 25% 3.725 34.200 - 34.200 TOTAL 19,990 25,195 83,255 84,458 (Net. Square .Feet) speregmt/com2 /I e 2. ANALYSIS OF SITE REQUIREMENTS Total Net Square Feet of Enclosed Space 25,195 Building Efficiency Factor of 15% 3.780 Gross Enclosed Sq. Ft. 28.975 Building Setback @ 25% 7,245 Sub -total 36.220 Open Yard Area 84,459 Sub -total 120.678 Macro (Site) Circulation @ 12% 14.480 Sub -total 135,158 Street Setback @ 5% 6,760 Total Square Feet 141,918 Total Acres 3.3 0 CITY YARD Bldg: 40,000 square feet 0 Office: 3,OOO.square feet to.include 4 restrooms, 2 showers and 2 small rooms for lockers Land: 2 acres paved and fenced. This needs to be a secure area for truck and equipment storage. Power: Estimate 800amps, 240/480 volts, 3 phase power ISSUES TO CONSIDER Access Security Timing Image Function Size Flexibility Price (REPORT 1E) FOR FURTHER INFORMATION, CONTACT: COLDWELL BANKER INFORMATION SYSTEMS ____________________ PAGE: 1 SALESPERSON: BARBARA VESSADINI SUMMARY OF AVAILABLE INDUSTRIAL PROPERTIES DATE: 04/25/90 PHONE: (818) 907-4668 AVAILABLE PROPERTIES IN THE SANTA CLARITA VALLEY xxxaa_ xxx=_ xxxa xxxaaa—xxxa=aa xxxaaaxxxxxeax xxx:xexcec xxxxxxxaavxeexexcaeaxexxeex xxxxxx-xxxxxxxxe-axevaaax xxxecaaa_ xxxxxaaaaxxxxa=aaa_ xxxeea AVAIL SF LEASE RATE MIN LOADING OFFICE SF SALE PRICE ELEC. CLR POSITIONS DATE # ADDRESS ACRES PRICE PER FOOT PARKING POWER SPRK RAIL AVAIL STATUS COMMENTS xxaaaa xxa=xxxxaaexx=caavxxxxaavv xaa xxxx==xex to==x=_ a____c aaazxxxx=a xxxxaaa aaaxxc=== 114 26477 GOLDEN VALLEY RD 18,720 1600AMP 9 GRND: 1 xxxzxa 4/90 ccexcaaax EXISTING x==a..xxxxa=aa xxa SEE FLYER RE: POSS. SAUGUS 91351 5,000 $1,175,000 120/208 NO HIGH: 0 OCCUPIED EXTRA LAND FOR DEV. .5 $62.77 116 SPACES 3 PHASE RAIL: NO PREV OCC 100% A/C SALE TRADITIONL MFG BLDG ....................................................................................................................................................... 361 25235 AVENUE STANFORD 37,360 $.445 N 225AMPS 22 GRND: 6 NOW EXISTING LARGE REAR YARD AREA. • VALENCIA 91355 277/480 YES HIGH: 0 VACANT LG REAR TRUCK AREA VALENCIA INDUST CNTR 1.8 73 SPACES 3 PHASE RAIL: NO PREV OCC LOCKBOX #25235 25235.25241 DIVISIBLE LEASE WAREHOUSE/ DISTRIB -DIVISIBLE PORTION(S) 18,400 ......................... ................................... 3232 27778 AVENUE HOPKINS 39,321 ........................................... $.43 N 800AMPS 18 _................................................. GRND: 2 NOW EXISTING DELUXE OFFICES VALENCIA 91355 3,300 $2,634,507 277/480 YES HIGH: 2 OCCUPIED CALCULATED SPRINKLER VALENCIA INDUST. CTR 2.5 $67.00 83 SPACES 3 PHASE RAIL: NO PREV OCC SYSTEM/DIV PORTIONS DIVISIBLE LEASE/SALE OF 10550SF 2 $.480 TRADITIONL 28771SF 2 5.450 MFG BLDG OCCUPIED -CALL BROKER -DIVISIBLE PORTION(S) 10,550 ........................................................................................................................................................ 28,771 566 25663 N AVENUE STANFORD 61,500 $.462 N 3000AMP 24 GRND: 0 NOW EXISTING AMENITIES INCLUDE VALENCIA 91355 7,000 $3,750,000 277/480 YES HIGH: 9 OCCUPIED EXCESS LAND,HIGH - VALENCIA INDUST CNTR 4.1 $60.97 122 SPACES 3 PHASE RAIL: NO PREV OCC IMAGE EXEC. OFFICES LEASE/SALE HEAVY POWER TRADITIONL FENCED YARD • MFG BLDG EXP 4/23/90 ........................................................................................................................................................ 1493 25045 AVENUE TIBBITTS 142,392 $.41 N 2000AMP 28 GRND: 2 NOW EXISTING 280b8SF/400AMP/lGL/ VALENCIA 91355 6,240 $8,000,000 277/480 YES HIGH: 26 VACANT 60H/57PKG/$.440 6.5 $56.18' 285 SPACES 3 PHASE RAIL: NO PREY OCC 51108SF/800AMP/IGL/. DIVISIBLE LEASE/SALE 12DH/102PKG/$.430 TRAD(TIONL 91284SF/1200AMP/1GL/ MFG BLDG 14OH/182PKG/$.420 -DIVISIBLE PORTION(S) 28,068 ........................................................................................................................................................ 51,108 91,284 ...................... ............................................................. .............................................................................. The above information was obtained from sources believed to be reliable, but Coldwell Banker Comm-! has not verified nor has any knowledge regarding the accuracy or completeness of the information and makes no representation or warranty concerning same. Therefore, Coldwell Banker Comm'! disclaims all liabilities in connection with any inaccuracies or incompleteness. (REPORT 1E) FOR FURTHER INFORMATION, CONTACT: SALESPERSON: BARBARA VESSADINI COLDNELL BANKER INFORMATION SYSTEMS SUMMARY OF AVAILABLE INDUSTRIAL PROPERTIES PAGE: 2 PHONE: (818) 907.4668 AVAILABLE PROPERTIES IN THE SANTA CLARITA VALLEY DATE: 04/25/90 AVAIL SF LEASE RATE MIN LOADING # ADDRESS OFFICE SF SALE PRICE ELEC. CLR POSITIONS DATE ACRES PRICE PER FOOT PARKING POWER SPRK RAIL AVAIL STATUS COMMENTS 2092 27772 AVENUE SCOTT 142,850 $.40 N 3000AMP 20 VALENCIA 91355 GRND: 3 NOW EXISTING SUBLEASE 1/31/93 VALENCIA INDUST CNTR 9.0 277/480 YES 270 HIGH: 3 VACANT 44895SF/$.420 DIVISIBLE SPACES 3 PHASE LEASE RAIL: NO PREV OCC 59819SF/$.410 TRADITIONL RATES/OFFICE/PKG/ PWR/DRS/VARY W/SF MFG BLDG -DIVISIBLE PORTION(S) 44,895 ........................................................................................... 59,819 83,031 97,955 3022 27420 AVENUE SCOTT VALENCIA 91355 164,784 .... ...... $.405 N 2000AMP 30 ...._-...-_.......................................... GRND: 4 NOW EXISTING 41229SF-8.420/1 GL VAIENCIA INDUST CTR 936 7.0 277/480 YES HIGH: 24 VACANT 6 DH/50 PKG/82392SF- LINCOLN INDUST II DIVISIBLE 202 SPACES 3 PHASE LEASE RAIL: NO NEW $.415/2GL/12DH/101PK 123555SF-$.40513GL WAREHOUSE/ 18 DH/151PKG DISTRIB LOCKBOX-WATERPIPE -DIVISIBLE PORTION(S).-. .. 41.229 ................ 82,392 123,555 .._..._...._....._......... 08 25655 SPRINGBROOK AVE SAUGUS 91350 200,000 $.30 N 25 GRND: 10 NOW EXISTING 20000SF W/1GL/20 PKG 7.0 YES 168 SPACES HIGH: 0 VACANT 32000SF W/1GL/32 PKG DIVISIBLE LEASE RAIL: NO PREV OCC 40000SF W/2GL/40 PKC WAREHOUSE/ 100000SF W/5GL/50PKG OFFICES TO SUIT DISTRIB -DIVISIBLE PORTION(S)20,000 .. ... ..................................................................................................................... 32,000 40,000 100,000 GRAND TOTALS (THIS REPORT) #BLDGS: 8 TOTAL AVAILABLE SOFT: 806,927 •f!};yyyYyyyl4;y;;kiyyy**;;;f yyyyyxy*;;Ry;yfixiyy*#yRy kf;##R#;;;ykk#;;yyyi;MRxl;tf yRyyyylf*;yRf yy#iyfyfyi;;ky;y;;;;;i;;;yyyffxxYi;fiyy;i;yyyyyyRtyllf yyx • FOOTNOTE: INCLUDES VALENCIA, CANYON COUNTRY, SAUGUS, AND NEWHALL ............................................................................. The above information was obtained from sources believed to be reliable, but ColdwelL Banker Commll has not verified nor has any knowledge regarding the accuracy or completeness of the Information and makes no representation or warranty concerning same. Therefore, Coldwell Banker Comm -1 disclaims all liabilities in connection with any inaccuracies or incompleteness. SATELLITE TRUCK BODY Location: 25663 Avenue Stanford, Valencia Size of Warehouse: 41,000 square feet Office: 4,000 square feet Land:* 48,278 square feet Monthly Rent: $17,260.00 NNN: Rental Increases: Annual CPI Building Amenities 1 Paint Booth (excluding blowers), 2000 amps, Include: 480/277 volt power, strip fluorescent lighting, evaporative cooling and space heaters, air lines throughout building, plugs for welders throughout manufacturing area, four compressor hookups, sprinklers PROS Good access Easily identified location Secure building and yard Concrete tilt -up construction Functional layout with land contiguous to building Building expandable (20,000 square feet) Finished offices with heating and a/c (No need for hiring space planner) Clean high image facility *Land square footage is yard area. Does not include building. CONS Not centralized Limited.yard space PROS Expandable size Ample yard space available Flexible NS Difficult access/traffic -San Fernando Road -SPRR Multi tenant Lack. of security 90 days for buildout Age and condition of Project Land not directly adjacent to building Metal building Need to hire space planner to design offices *$.10 per square foot includes concrete paving in areas not currently paved and 5 ft. fencing. **Taxes (part of the NNN charges) would increase on the.sale of the property. THATCHER GLASS Location: 25655 Springbrook Avenue Size of Warehouse: 40,000 square feet Office: 3,000 square feet includes 4 restrooms, 2 showers Land:* Based on 2 acres or 87,120 square feet at $.10 psf =$8,712.00 per month: Monthly Rent: $10,700 for building and $8,712 for land = $19,412.00. NNN: .0035 per square foot $1400** Rental Increases: Annual CPI Building Amenities Include: Warehouse lights, ordinary hazard sprinklers, 400 amps of power PROS Expandable size Ample yard space available Flexible NS Difficult access/traffic -San Fernando Road -SPRR Multi tenant Lack. of security 90 days for buildout Age and condition of Project Land not directly adjacent to building Metal building Need to hire space planner to design offices *$.10 per square foot includes concrete paving in areas not currently paved and 5 ft. fencing. **Taxes (part of the NNN charges) would increase on the.sale of the property. Location: Size of Warehouse: Office: Land: Monthly Rent: Building Amenities Include: PROS Central location Possible expansion 'Building may be in escrow. 0 ELECTROL BUILDING 26477 Golden Valley Road, Saugus 18,720 square feet 5,000 square feet 66,220 square feet For Sale 62.77 or $1,175,000 1600 amps, 120/208, 3 Phase, 100% A/C CONS Warehouse too small. No room for inside storage access. Will outgrow quickly Cannot lease - For Sale Low clearance in warehouse 9' Older facility Building built in 1966 0 0 ANDERSON BARROWS BUILDING Location: 27778 Avenue Hopkins, Valencia Size of Warehouse: 39,321 square feet Office: 3,300 square feet Land: 53,461 square feet Monthly Rent: $16,908 NNN: Not Available Rental Increases: TBD Building Amenities Include: 800 amps, 277/480, 3 Phase Power, Sprinklers, Space Heaters and Evaporative Coolers, Fluorescent Lighting PROS CONS Ample warehouse or office Not enough land Secure building No fenced yard area No expansion capabilities Location: Size of Warehouse: Office: Land: Monthly Rent: ROR Rental Increases: Building Amenities Include: M PROS Clean high image facility Secure Concrete tilt -up construction L STANLEY BROWN'S BUILDING 25235 Avenue Stanford, Valencia 37,360 square feet 5,797 square feet 43,403 square feet $16,625 Not Available TBD 600 amps, 480 volts, 3 Phase Power, Sprinklers, Warehouse Lighting, 95' yard to rear property line CONS Designed for two tenants Limited space for expansion Small yard No ability to fence yard area Excellent Loading PROS CONS Plenty of expansion room Difficult to have multi -tenant for City Yard High clearance No separate yard area Offices go with larger section of building APPLEMAID BUILDING Location: 25045 Avenue Tibbitts, Valencia Size of Warehouse: 142,392 square feet (divisible to 28,000) Offices: 6,240 existing Land: Total 6.5 acres - No separate yard area Monthly Rent: $16,400 for 40,000 square feet Rental Increases: TBD Building Amenities Include: 28' clearance, 2000 amps, 277/480, 3 Phase Power, Excellent Loading PROS CONS Plenty of expansion room Difficult to have multi -tenant for City Yard High clearance No separate yard area Offices go with larger section of building Coldwell Banker Commere e Real Estate Services BROKERAGE AND MANAGEMEN7 February 7, 1990' Mr. John E. Medina Director of Public Works City of Santa Clarita 23920 Valencia Blvd. Suite 300 Santa Clarita, . CA 91355 • Re: 25663 West Avenue Stanford, Valencia, CA Dear Mr: Medina: On behalf of the owner of the above referenced Property, we are pleased to present a proposal to lease based on the following terms and conditions: Premises: Approximately 61,500 square feet situated on approximately 176,795 square feet of land. Term: Six (6) years commencing on June 1, 1990. Base Rent: $27,060.00 per month. Tenant shall pay property taxes, insurance and maintenance. Security Deposit: $27,060.00 Adjustments: At the commencement of the 19th month of the lease term and each 18 months thereafter, the monthly base rent shall be adjusted by the increase, if any, in the Consumer Price Index for Urban Wage Earners and Clerical Workers, Los Angeles/Long Beach/Riverside, 1982-84 =100 Average, "All Items", herein referred to as CPI. ATTACHMENT II I S301 Ventura Boulevard, Suite 120 • Sherman Oaks, California 91403-3157 February 7, 1990 Page Two Rent Abatement: In consideration for entering into a lease agreement, Landlord shall reduce the monthly base rental payments for the first four months of the lease term to $13,530.00. This proposal shall be subject to the execution of a mutually acceptable lease agreement and proposals submitted to other parties. Only a fully executed lease agreement shall constitute a lease for the Premises. Should you have any questions, please contact us. Sincerely, u Doug Sonderegger Craig Peters Barbara Vessadini (818) 907-4607 (818) 907-4616 (818) 907-4668 FOR SALE AVAIL. SF: INDUSTRIAL OR LEASE TOTAL BLDG. SF: 61,500 -61,500 4W'"t �' �. ��,p•u Ycl pre n.>�3via..3nT.- ..0 1 tae* ' M.N a°s i . ¢ 2 C a_. +i.tt•', ADDRESS 25663 WEST AVENUE STANFORD, VALENCIA, CA zip 91355 * IDEAL MANUFACTURING BUILDING * LOCATED IN PRESTIGIOUS VALENCIA INDUSTRIAL CENTER * AMENITIES INCLUDE: EXCESS LAND, HIGH IMAGE EXECUTIVE OFFICES, HEAVY POWER, AND FENCED YARD. LEASE RENTALS 28,435.00 Imo Gross — Net •462 Term 5 year minimum SALE PRICES 3 7501 DDD DD Price/SFS 60.97 TaxS 40,662.89 Yr 89/90 Terms All Cash Possession Avail SF - 61 , 5nn Dima IRR lg� Power3000 A277/480 v 3 e 4 wi re Veri fy Min. SF iii 50171 DimI.RR_-x _IRR Lighting Fluorescent Heat SDace Cooling Eyap Land SF 176,795 DimIRE_x TER Trk Hi Drs 0 Dim - x -- DockNO Well NO Const CTII Root CLU - LAM Grd Lev Drs Y Din16' 14,' 14 r X 14' X 12' X 14 r Rag No Foil YP[ Skits Yes Storage Mess SF None 1nclAn avail SF N/A Rest Rms: MST&3U w 2T Sarkd Yee v�Min,CirHgt.,1A'—x'24' OFFICE DATA Of, SF 7+000 x19&R Rest Rrns:M2T&ISH'w 1T Y Pkg 177 Fenced P S Yr Bit 1,96.0-2 AIC Yes Heat Yes Finished Ofc Men SF None Incl In avail SF N/A Thomas Bk Pg a 173. D-7 Zone 11- 115 Key Call broker - occupied Sp. Feat. PARK LISTED BY DnugSnndereager Phone 18181 907-4600 Region NW Listing a 1--LIZ611900112 Lew Horne REV. Craik Peters�1 THIS A' EXCLUSIVE LISTING ft ' MULTIPLE- AND IS ..9JELT TO ALL . Ra RULES AND REGULATIONS....... This Immmaion nee peen rornnneD lmm aeurtes wmcn we Deem .elb0le, oe mr wmcn we a..... nD DannnT. Th. 11". An cpmnne0 na„m is Diven in cNnOenca, won tM1e unOarNaMinO lnal all neypLarbna Derlarmnp to rmz DrndWf ll MnObO TrouBn Ine zu0mrtrrnp 011¢e. Arr mUzuremenle V0 appronmate. {, wmarun InOuzirLl ileal Eaare AatpGalrpn `® 15301 Ventura Boulevard Suite 120 Sherman Oaks, California 91403 818/907-4670 ' Coldwell Banker Commerce ' - Real Estate Senices BROKERAGE AND MANAGEMENT March 20, 1990 Mr. John E. Medina Director of Public Works City of Santa Clarita 23920 Valencia Blvd. Suite 300 Santa .Clarita, CA 91355 JAICOMMERCIAE VAR 2 2 1990 CITU C` +^NT� CLxR;I h Re: 25663 West Avenue Stanford, Santa Clarita, CA Dear Mr. Medina: On behalf. of the owner of the above referenced Property, we are pleased to present a proposal to lease based on the following terms and conditions: Premises: Approximately 41,000 square feet, Term: Six (6) years commencing on June 1, 1990. Base Rent: $18,260.00 per month. Tenant shall pay property taxes, insurance and maintenance. Security Deposit: $18,260.00 Adjustments: At the commencement of the 19th month of the lease term and each 18 _months thereafter, the monthly base rent shall beadjusted by the increase, if any, in the Consumer Price Index for Urban Wage Earners and Clerical Workers, Los Angeles/Long Beach/Riverside, 1982-84 =100 Average, "All Items", herein referred to as CPI. ATTACHMENT III 15301 Ventura Boulevard, Suite 120 • Sherman Oaks, California 91403-3157 0 March 20, 1990 Page Two CI Access: Lessee shall access said property from Rye Canyon Road at a location mutually acceptable to Lessee and Lessor. This proposal shall be subject to the execution of a mutually acceptable lease agreement and proposals submitted to other parties. Only a fully executed lease agreement shall constitute a lease for the Premises. Should you have any questions, please contact us. WSoncnderegger Senior Sales Consultant (818) 907-4607 Craig R. Peters Sales Consultant (818) 907-4616 RYE CANYON ROAD 55 - ® [,� all Im 0 U -S It 11 nU2 IV ck It Y] Its w z uj4 n •11 n - ii ELI t7, "D M E n ,,ATE:LLIT 0 0 0 0 2866 8 SCALE 1" -200' 6 O a q w, Pb �'• N 0%b 3}t g7 J ab r♦, ,ire Z� rid rA4• � o 9 5 � W � 4 405 Au O rear , 6r•' bpi r ro 3 ss .fpm b Uq 50 Y` 5}l A.gI ry 2.66 A. r 0 p81 1t . 31 � T � At 1' wr 1 „Z r ��:.::•.,. toa^ n i w a � �f-B pt O • EP \� 2 � � 3 P GN C r re 143Ae. s. e GAO > „s �3a'4n h h ?toy o♦E♦♦' b' P 0 3De.n6 6 s?fig + i� Rs 6j590 2741,06 �3 6 4b 0 (bbl 0 626. 'ter>s s • II6P .4,. V O SB PB VEli 4 b o .; . ,(v • BOY DrIA4• p• n b P 1F^ Jj tna 70t5;ee. i4io�, T 47.48 CODE . 8889 TRACT NO. 30118 M. B. 750-26-3 L PARCEL' MAP _ P.M. 22-28 \gyp Sp PARCEL„MAP PM;• 52-40 �O YQ -� FOR -REV. ASSM'T SEE: r �� 3246-36 cot