AGENDA REPORT
Meeting Date: September 1, 2026
Item Number:
To: Board of Directors, The Parking Authority of the City of Beverly Hills From: Logan Phillippo, Real Property Development Manager Jonathan Gernes, Senior Management Analyst
Subject: FIRST AMENDMENT OF LEASE BY AND BETWEEN THE PARKING
AUTHORITY OF THE CITY OF BEVERLY HILLS AND WGACA, LLC
(DBA “WHAT GOES AROUND COMES AROUND”) AT 9520
BRIGHTON WAY
Attachment: 1. First Amendment of Lease
RECOMMENDATION
Staff recommends the Parking Authority Board of Directors approve the First Amendment of Lease by and between The Parking Authority of the City of Beverly Hills and WGACA, LLC (DBA “What Goes Around Comes Around”) for the property located at 9520 Brighton Way.
INTRODUCTION
The proposed amendment would extend the term of the lease from November 30, 2026, to April 30, 2033, and increase the monthly rent beginning December 1, 2026.
DISCUSSION
The Parking Authority entered into a lease agreement with What Goes Around Comes Around at 9520 Brighton Way in June 2021. What Goes Around Comes Around operates as a vintage luxury retailer, curating a wide range of designer pre-owned apparel and accessories from around the globe.
The proposed First Amendment of Lease provides the following key terms:
• Extension of the Term: The lease shall expire April 30, 2033; • Base Rent: The monthly base rent shall be $54,855 beginning December 1, 2026, and thereafter shall increase on an annual basis by 3%; and Meeting Date: September 1, 2026
• Operating Expenses: The monthly fixed amount pass-through for operating expenses shall increase to $967.45 beginning December 1, 2026, and thereafter shall increase on an annual basis by 3%.
FISCAL IMPACT
The proposed lease amendment extends the term of the lease through April 30, 2033, and increases the monthly base rent payable from $39,392.81 to $54,855 per month and the operating expenses from $939.27 to $967.45 beginning December 1, 2026. An approximate $4,666,264 would be collected in base rent and operating expenses over the extension term.
There are no broker’s commissions associated with this lease amendment.
Ryan Gohlich,
Executive Director
Approved By
Attachment 1
-1-
B0785-0001\3277601v3.doc
FIRST AMENDMENT OF LEASE
THIS FIRST AMENDMENT OF LEASE (this “Amendment”) is dated as of September 1, 2026 and is entered into by and between THE PARKING AUTHORITY OF THE CITY OF BEVERLY HILLS (“Landlord”) and WGACA, LLC, a Delaware limited liability company (dba “What Goes Around Comes Around”) (“Tenant”).
R E C I T A L S
A. Landlord and Tenant executed that certain “Retail Lease” dated June 1, 2021 (the “Lease”). Capitalized terms used herein but not defined shall have the meanings set forth in the Lease.
B. The Lease affects a portion (the “Premises”) of the building located at 9520 Brighton Way, Beverly Hills, California.
C. Landlord and Tentant now desire to amend the Lease as more specifically set forth below.
A G R E E M E N T
NOW, THEREFORE, in consideration of the foregoing recitals, the covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree as follows:
1. Extension of Term; Rent; Operating Expenses and Tax Payments. The term of the Lease shall expire on April 30, 2033. For avoidance of doubt, the lease termination date and extension terms previously described in Section 3.2 of the Lease are no longer applicable, there shall no longer be any extension options held by Tenant. Base Rent under Section 1.8 of the Lease shall be as follows:
Period Monthly Rent
12/01/2026 - 11/30/2027 $54,855.00
12/01/2027 - 11/30/2028 $56,500.65
12/01/2028 - 11/30/2029 $58,195.67
12/01/2029 - 11/30/2030 $59,941.54
12/01/2030 - 11/30/2031 $61,739.79
12/01/2031 - 11/30/2032 $63,591.98
12/01/2032 - 04/30/2033 $65,499.74
Commencing on December 1, 2026, the fixed monthly payments for Operating Expenses and Tax Payments described in Section 1.9 of the Lease shall be as follows:
Docusign Envelope ID: EEB5CF86-B058-8AE3-8303-D6021B2AF1DC -2-
B0785-0001\3277601v3.doc
Period Fixed Amount
Pass-Through
12/01/2026 - 11/30/2027 $967.45
12/01/2027 - 11/30/2028 $996.47
12/01/2028 - 11/30/2029 $1,026.36
12/01/2029 - 11/30/2030 $1,057.15
12/01/2030 - 11/30/2031 $1,088.86
12/01/2031 - 11/30/2032 $1,121.53
12/01/2032 - 04/30/2033 $1,155.18
Notwithstanding the foregoing, upon written notice from Landlord, Tenant shall instead pay on a monthly basis Tenant’s Share of Operating Expenses and Tax Payments as estimated in good faith by Landlord.
2. Continuing Effect. Except as specifically modified hereby, the Lease shall remain unaffected and unchanged. The Lease is hereby ratified and affirmed by Landlord and Tenant and remains in full force and effect as modified hereby.
3. Counterparts. This Amendment may be executed in any number of counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of which, taken together, shall be deemed to be one and the same instrument.
4. Recorded Memorandum of Lease. Upon its execution and delivery of this Amendment, Tenant shall concurrently execute and deliver a duly acknowledged counterpart of the Memorandum of Lease in the form attached hereto as Exhibit “A”.
Docusign Envelope ID: EEB5CF86-B058-8AE3-8303-D6021B2AF1DC -3-
B0785-0001\3277601v3.doc
IN WITNESS WHEREOF, Landlord and Tenant have executed this Amendment as of the date and year first above written.
LANDLORD: THE PARKING AUTHORITY OF THE
CITY OF BEVERLY HILLS
By:
Craig A. Corman, Chair
ATTEST:
By:
Huma Ahmed, Secretary
APPROVED AS TO FORM:
By:
Laurence S. Wiener,
General Counsel
APPROVED AS TO CONTENT:
By:
Ryan Gohlich,
Executive Director
TENANT: WGACA, LLC,
a Delaware limited liability company
(dba What Goes Around Comes Around)
By:
Seth Weisser, President and CEO
Docusign Envelope ID: EEB5CF86-B058-8AE3-8303-D6021B2AF1DC A-1-
B0785-0001\3277601v3.doc
EXHIBIT “A”
FORM OF MEMORANDUM OF LEASE
(Attached.)
Docusign Envelope ID: EEB5CF86-B058-8AE3-8303-D6021B2AF1DC A-2-
B0785-0001\3277601v3.doc
RECORDING REQUESTED BY, AND
WHEN RECORDED MAIL TO:
The Parking Authority of the City of Beverly
Hills
Office of the City Manager
455 North Rexford Drive
Beverly Hills, California 90210
Attn: Secretary
(SPACE ABOVE LINE FOR RECORDER’S USE)
This Memorandum of Lease is recorded for the benefit
of the City of Beverly Hills and is exempt from Recording Fees pursuant to Sections 6103, 27383 and 27388.1 of the California Government Code.
MEMORANDUM OF LEASE
THIS MEMORANDUM OF LEASE (this “Memorandum”) is dated as of September 1, 2026, and is entered into by and between THE PARKING AUTHORITY OF THE CITY OF BEVERLY HILLS (“Landlord”), and WGACA, LLC, a Delaware limited liability company (dba “What Goes Around Comes Around”) (“Tenant”).
R E C I T A L S
A. Landlord and Tenant executed that certain “Retail Lease” dated June 1, 2021 (the “Lease”).
B. The Lease affects a portion of the building located at 9520 Brighton Way, Beverly Hills, California (the “Property”).
C. Landlord and Tenant have entered into a First Amendment of Lease and, Landlord and Tenant desire to now record the Lease, as amended, of record.
A G R E E M E N T
1. Lease. Landlord leases and demises to Tenant, and Tenant leases and accepts from Landlord, the “Premises” described in the Lease, as amended, for a term which started on June 1, 2021 and which shall expire, as the Lease has been amended, on April 30, 2033, at the rental rates and upon the other terms and conditions set forth in the Lease, as amended, which are incorporated herein by this reference. For avoidance of doubt, the lease termination date and extension terms previously described in Section 3.2 of the Lease are no longer applicable, there shall no longer be any extension options held by Tenant.
2. Purpose. This Memorandum is prepared for the purposes of recordation only and in no way modifies the terms and conditions of the Lease, as amended. In the Docusign Envelope ID: EEB5CF86-B058-8AE3-8303-D6021B2AF1DC A-3-
B0785-0001\3277601v3.doc
event any provision of this Memorandum is inconsistent with any term or condition of the Lease, the term or condition of the Lease shall prevail.
3. Counterparts. This Memorandum may be executed in any number of counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of which, taken together, shall be deemed to be one and the same instrument.
IN WITNESS WHEREOF, the parties hereto have executed this Memorandum of Lease as of the date first written above.
LANDLORD: TENANT:
THE PARKING AUTHORITY FO THE CITY
OF BEVERLY HILLS
By:
Ryan Gohlich, Executive Director
WGACA, LLC,
a Delaware limited liability company
(dba What Goes Around Comes Around)
By: ____________________
Seth Weisser, President and CEO
Docusign Envelope ID: EEB5CF86-B058-8AE3-8303-D6021B2AF1DC A-4-
B0785-0001\3277601v3.doc
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual who signed the document to which this certificate is
attached, and not the truthfulness, accuracy, or validity of that document.
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
On before me, ________________________________________ Notary Public, personally appeared ________________________________________, who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity, and that by his/her/their signature(s) on the instrument the person(s), or the entity(ies) upon behalf of which the person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Place Notary Seal Above
Signature of Notary Public
Docusign Envelope ID: EEB5CF86-B058-8AE3-8303-D6021B2AF1DC A-5-
B0785-0001\3277601v3.doc
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual who signed the document to which this certificate is
attached, and not the truthfulness, accuracy, or validity of that document.
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
On before me, ________________________________________ Notary Public, personally appeared ________________________________________, who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity, and that by his/her/their signature(s) on the instrument the person(s), or the entity(ies) upon behalf of which the person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Place Notary Seal Above
Signature of Notary Public
Docusign Envelope ID: EEB5CF86-B058-8AE3-8303-D6021B2AF1DC Certificate Of Completion
Envelope Id: EEB5CF86-B058-8AE3-8303-D6021B2AF1DC Status: Sent Subject: Complete with Docusign: First Amendment of Lease - WGACA, LLC.pdf Source Envelope:
Document Pages: 8 Signatures: 2 Envelope Originator:
Certificate Pages: 2 Initials: 0 Jonathan Gernes
AutoNav: Enabled
EnvelopeId Stamping: Enabled
Time Zone: (UTC-08:00) Pacific Time (US & Canada)
455 N. Rexford Drive
Beverly Hills, CA 90210
[email protected]
IP Address: 2603:8000:acf0:
Record Tracking
Status: Original
8/18/2026 10:00:33 AM
Holder: Jonathan Gernes
[email protected]
Location: DocuSign
Signer Events Signature Timestamp
Seth weisser
[email protected]
Ceo
Security Level: Email, Account Authentication
(None) Signature Adoption: Pre-selected Style
Using IP Address: 131.239.217.34
Sent: 8/18/2026 10:05:18 AM
Viewed: 8/18/2026 10:47:13 AM
Signed: 8/18/2026 10:51:04 AM
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Andrew Bragin for
[email protected]
Security Level: Email, Account Authentication
(None)
Signature Adoption: Pre-selected Style
Using IP Address: 208.87.233.201
Sent: 8/18/2026 10:51:05 AM
Viewed: 8/18/2026 11:59:28 AM
Signed: 8/18/2026 12:14:57 PM
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Logan Phillippo
[email protected]
Security Level: Email, Account Authentication
(None)
Sent: 8/18/2026 12:15:00 PM
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Ryan Gohlich
[email protected]
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Craig A. Corman
[email protected]
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Signer Events Signature Timestamp
Huma Ahmed
[email protected]
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Not Offered via Docusign
In Person Signer Events Signature Timestamp
Editor Delivery Events Status Timestamp
Agent Delivery Events Status Timestamp
Intermediary Delivery Events Status Timestamp
Certified Delivery Events Status Timestamp
Carbon Copy Events Status Timestamp
Denise Garcia
[email protected]
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Keith Sterling
[email protected]
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Megan Grilley
[email protected]
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Witness Events Signature Timestamp
Notary Events Signature Timestamp
Envelope Summary Events Status Timestamps
Envelope Sent Hashed/Encrypted 8/18/2026 10:05:18 AM
Payment Events Status Timestamps