Explanation
Background: Since November 1, 2010 on behalf of Columbus Public Health, the City has leased approximately 3,600 square feet of medical office space located at 1675-1695 Holt Road to house a Women, Infants and Children (WIC) clinic. The current Lease Agreement (“Lease”), effective October 1, 2016 and authorized by City Council Ordinance 2415-2018, is by and between Best Corporate Properties II,, LLC as the Landlord and the City as the Tenant. Best Corporate Properties II, transferred the 1675-1695 Holt Road property and the City’s leasehold interest in October 2025 to Best Corporate Properties III, LLC.
In order to memorialize the change in Landlord in the Lease Agreement, the City and Best Corporate Properties III, LLC, as successor in interest to Best Corporate Properties II,, LLC, desire to enter into a Third Amendment to Lease Agreement to assign the Lease Agreement to Best Corporate Properties III as Landlord and to change the Notice provision to reflect the change in Landlord. Best Corporate Properties III has registered with the City as a vendor. Its’ Contract Compliance # is CC027911.
This legislation authorizes the Director of Development to execute those documents necessary to enter into a Third Amendment to Lease Agreement with Best Corporate Properties III, LLC of that certain Lease Agreement, effective October 1, 2016, to recognize Best Corporate Properties III as successor in interest to Best Corporate Properties II,, LLC and Landlord and to revise the Notice provision of the Lease to indicate the correct address for the new Landlord. All other terms, conditions, and provisions of the Lease will remain unchanged and in full force and effect. This legislation is presented as emergency measure.
Fiscal Impact: $0.00
Emergency Action: This legislation is presented as emergency measure to allow for payment of November and December monthly rent to the new ownership entity at the earliest possible date to comply with the terms of the...
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