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File #: A 21-224    Name: Monterey Bay Management Lease Agreement
Type: BoS Agreement Status: Passed - Natividad Medical Center
File created: 5/13/2021 In control: Board of Supervisors
On agenda: 5/25/2021 Final action: 5/25/2021
Title: Approve and authorize the Chair of the Board of Supervisors to execute, on behalf of the County, a Lease Agreement with Monterey Bay Management Services, LLC, to lease office space located at Natividad Medical Center (NMC), 1441 Constitution Boulevard, Building 400, in Salinas, California for the period June 1, 2021 to May 31, 2024 for 5935 square feet of space located at 1441 Constitution Boulevard, Building #400, Suite #100, Salinas, CA at the monthly rate of $14,935, subject to an annual rent adjustment of three percent, with a 6-month termination without cause provision.
Attachments: 1. Board Report.pdf, 2. Monterey Bay Management Lease Agreement.pdf, 3. Completed Board Order Item No. 23
Title
Approve and authorize the Chair of the Board of Supervisors to execute, on behalf of the County, a Lease Agreement with Monterey Bay Management Services, LLC, to lease office space located at Natividad Medical Center (NMC), 1441 Constitution Boulevard, Building 400, in Salinas, California for the period June 1, 2021 to May 31, 2024 for 5935 square feet of space located at 1441 Constitution Boulevard, Building #400, Suite #100, Salinas, CA at the monthly rate of $14,935, subject to an annual rent adjustment of three percent, with a 6-month termination without cause provision.

Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:

Approve and authorize the Chair of the Board of Supervisors to execute, on behalf of the County, a Lease Agreement with Monterey Bay Management Services, LLC, to lease office space located at Natividad Medical Center (NMC), 1441 Constitution Boulevard, Building 400, in Salinas, California for the period June 1, 2021 to May 31, 2024 for 5935 square feet of space located at 1441 Constitution Boulevard, Building #400, Suite #100, Salinas, CA at the monthly rate of $14,935, subject to an annual rent adjustment of three percent, with a 6-month termination without cause provision.

SUMMARY/DISCUSSION:

Monterey Bay Management Services, LLC has been a tenant in Building 400 (Medical Office Building) since 1998. They lease 5,935 square feet of space in the building or 9.5 % of the leasable space in the building. The space is an optometry business owned by the tenant. The rent is $2.51 per square foot at gross. The proposed renewal of the lease is for an additional three (3) years.

OTHER AGENCY INVOLVEMENT:

County Counsel has reviewed and approved this Agreement as to legal form and risk provisions. The Auditor-Controller has reviewed and approved this Agreement as to fiscal provisions.
FINANCING:
There are no financing issues associated with this request.
Prepared by: Daniel Leon, CFO, 783.2561
Approved by: Gary G...

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