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HomeMy WebLinkAboutExhibit AIIIIIIII AWAKEFIELD Commander Bianca Joseph Miami Police Department -Internal Affairs Section 5040 NW 7th Street, Suite 900 Miami, FL 33176 John O'Neil Senior Director, Commercial Brokerage John.oneil@cushwake.com 6100 Blue Lagoon Drive, Suite 300 Miami, FL 33126 (305) 267-8062 Tel (305) 267-8546 Fax RE: Cushman & Wakefield, on behalf of Valoro Capital is pleased to present to your department, Miami Police Department- Internal Affairs ("Tenant") the following proposal to renew their lease at 5040 NW 7th Street, Miami, Florida. Please review the following: BUILDING: 5040 NW 7th Street Miami, Florida 33145 OWNERSHIP: Valoro Capital PREMISES: Suite 900 (9,280 rsf) LEASE COMMENCEMENT: November 1, 2022 (Estimated) LEASE TERM: Five (5) years from the Lease Commencement Date. ANNUAL BASE RENT: OPERATING EXPENSES: The first year Base Rent shall be $31.00 per rentable square foot and shall escalate by $1.00 per square foot on each anniversary of the Lease. There shall be no pass throughs of Operating Expenses during the renewal term. No warranty or representation, express or implied, is made as to the accuracy of the information contained herein and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions, imposed by our principals. TENANT IMPROVEMENT ALLOWANCE: LEASE AGREEMENT: HOURS OF OPERATION: SECURITY DEPOSIT: BROKERAGE: DISCLOSURE: NON -BINDING: Landlord shall touch up paint in the Premises. Tenant and Landlord shall execute a lease amendment. Air conditioning shall be provided to Tenant's space from 7:00 a.m. to 6:00 p.m. Monday through Friday, and Saturday 9:00 a.m. to 1:00 p.m. Any overtime air conditioning requested by Tenant shall be Tenant's cost. It is estimated that after hours HVAC, for the first Lease year, will be approximately $55.00 per hour. None shall be required. It is understood that in this transaction Cushman & Wakefield ("broker") represents the Landlord and NAI Miami represents the Tenant. There are no other brokers are involved. All commissions due in connection with this transaction shall be payable by Landlord pursuant to a separate agreement. Florida Statute, Chapter 475, requires Brokers to provide disclosure regarding representation. In this transaction, Cushman & Wakefield is acting agent for the Landlord. This Proposal constitutes only an expression of interest and shall not constitute a binding agreement between the signatories to consummate the transaction discussed herein. This Proposal is non -binding and is merely a reflection of the parties' understanding of some of the general terms of the proposed lease transactions and upon which understanding the parties are willing to proceed with further discussions and negotiations. Notwithstanding the contents of this Proposal or any other past, present or future written or oral indications of assent or indications of results of negotiation or agreement to some or all matters then under negotiation, it is agreed that no party to the proposed transaction (and no person or entity related to any such party) will be under any legal obligations with respect to the proposed transaction or any similar transactions, and no offer, commitment, estoppel, undertaking or obligation of any nature No warranty or representation, express or implied, is made as to the accuracy of the information contained herein and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions, imposed by our principals. whatsoever shall exist or be implied in fact, law or equity, unless and until a formal written agreement providing for the transaction containing in detailed legal form the terms and conditions of the transaction has been executed and delivered by all parties intended to be bound. Both parties acknowledge and agree that during the course of negotiations the parties may reach agreement on certain points related to the proposed transaction, but agree that neither party shall be entitled to rely upon any such agreements, or any statements or representations that may be made during the course of discussions and negotiations, nor shall there be any legal obligations related thereto, until the parties have executed a formal written agreement setting forth in detailed legal form all of the terms and conditions of the proposed transaction. This paragraph sets forth the entire understanding and agreement of the parties (and all related persons and entities) with regard to the subject matter of this paragraph and supersedes all prior and contemporaneous agreements and understandings related thereto. This paragraph may be amended, modified, superseded or canceled only by written instrument which specifically states that it amends this paragraph executed by an authorized party of each entity to be bound thereby. PROPOSAL EXPIRATION: This Proposal will expire as of June 27, 2022 at 12:00 p.m. ANY LEASE SHALL BECOME EFFECTIVE ONLY UPON EXECUTION AND DELIVERY THEREOF BY BOTH LANDLORD AND TENANT. THE OWNERS SHALL RESERVE THE RIGHT TO MODIFY OR WITHDRAW THIS PROPOSAL UPON NOTICE, AT ANY TIME, UP TO THE EXECUTION AND DELIVERY OF A LEASE MODIFICATION AGREEMENT BY BOTH PARTIES. Sincerely, CUSHMAN & WAKEFIELD OF FLORIDA, INC. No warranty or representation, express or implied, is made as to the accuracy of the information contained herein and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions, imposed by our principals. John O'Neil Senior Director Office Brokerage Services AGREED TO AND ACCEPTED BY: Miami Police Department- Internal Affairs Name Title Date No warranty or representation, express or implied, is made as to the accuracy of the information contained herein and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions, imposed by our principals.