Alameda City Council
October 6, 2026

Introduction of Ordinance to Approve
Lease for a Portion of Building 29
(1701 Monarch Street, Suite 200) with
Longshot Space Technologies
Corporation, a Delaware corporation
October 6, 2026
1 Building 29: 1701 Monarch Street
• Navy constructed in 1987 as a workshop
and gun testing facility
• Two suites:
• Suite 100 occupied by Dreyfuss Capital Partners,
LLC, maker’s space/shop space
• Suite 200 - occupied by Longshot under license
• Unconventional Space: Flat-roof T-shaped
building, Suite 200 is a narrow, concrete
reinforced corridor
• Limited disposition opportunity:
• Located within State Tidelands Trust, non-historic
• Within De-Pave Park design footprint, project has
not secured its full funding but building term is
limited.
2 November 7, 2023: City Council directed staff to strive for occupancy of Buildings 25, 29 until needed for DePave Park About Longshot Space Technologies Corporation
3 Aerospace start-up currently based in Alameda
• R&D to deliver cargo quickly to space using kinetic launch with no rocket fuel, and test materials at hypersonic speed • Prototype 60-foot accelerator utilizes compressed gas (nitrogen) to push a payload (cargo) forward
• Currently have an administrative license for use of B29 for installation of prototype and testing, expires in December • Subleasing office space nearby in Building 23, a privately owned hangar
• Longshot’s goal is to build a larger system at a more suitable location in the future (larger area, rural location) • Privately financed, actively pursuing Series A round of funding
Proposed Lease Terms
4 Use: installation and testing of a prototype multi-injection accelerator, small mobile office, light assembly/R&D use Premises: 9,200 sq ft of building plus 7,400 sq ft fenced yard & non-exclusive parking
• Longshot has obtained an approved Use Permit, and is
waiting to finalize a Commercial Building Permit for
tenant improvements, contingent on City Council
approving new lease
Term: 37 Months (Approx. 3 years), terminating in late 2029 (contingent on Lease Commencement date, if approved)
Monthly Rent: Initial $5,670/mo., with annual 3.5%
escalation
Assessment
5 • Financial
• Independent review by Keyser Marston Associates indicates the Tenant has adequate resources to cover Lease obligations, similar to other start-ups.
• Adequate rating that will improve as additional investment capital and contract revenue are. secured
• Proposed Base Rent for B29 is small relative to the company's overall cost structure. • Use and Terms
• Tenant pays taxes & Operating Expenses (NNN lease)
• Accept Premises As-Is with one-month rent credit for building improvements • Short lease duration does not impede De-Pave Park
• 60-day termination clause provides flexibility for City • Unique building layout unsuitable for many businesses; perfect for Longshot R&D • PSF rate reflective of short-term and unusual layout
Recommendation
• Approve the first reading of the ordinance authorizing City Manager to execute a 3-year lease with Longshot Space Technologies Corporation, a Delaware corporation, for a portion of Building 29 per the terms described in the staff report.
• Short-term nature of lease generates revenue while providing flexibility to City • Maintains property as occupied, reducing security concerns