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1 RiversideCA.gov
1 RiversideCA.gov
FIRST AMENDMENT TO COMMERCIAL
LEASE AGREEMENT– GREENBERG &
GREENBERG
City Council
January 23, 2024
Riverside Public Utilities
RiversideCA.gov
2 On September 17, 2019, the City Council approved a
Commercial Full-Service G ross Lease Agreement with
Greenberg & Greenberg, a Professional Law
Corporation, for 3,188 square feet of rentable space in the Mission Square Building, Suite 550 for a ten-year term with one additional five-year term to extend which
expires on March 23, 2030.
BACKGROUND
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2 RiversideCA.gov
3 Greenberg & Greenberg req uested an Amendment to
the Lease Agreement term and Commencement Date
due to delays directly related to the Tenant
Improvements and expansion of their suite due to:
1. Contractor, sub-contractor and material supplier
delays and
2. COVID impacts to obtaining final approval with their building permit
DISCUSSION
RiversideCA.gov
4 Staff has reviewed the proposed First Amendment to Lease Agreement and recommends the Rent Commencement Date be
amended under the terms summarized below:
1. Term: August 1, 2020, to July 31, 2030.
2. Rent Commencement Date: Will be amended from March 23, 2020 to August 1, 2020.
3. Base Year: Will be amended from 2019 to 2020.
4. Other: All other terms of the original lease shall remain unmodified and in full force.
PROPOSED AMENDED LEASE TERMS
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3 RiversideCA.gov
5 Strategic Priority No. 3 – Economic Opportunity
Goal 3.3 – Cultivate a business climate that welcomes innovation, entrepreneurship, and investment.
Cross-Cutting Threads
STRATEGIC PLAN ALIGNMENT
RiversideCA.gov
6 That the City Council:
1. Approve a First Amendment to the Lease Agreement with Greenberg & Greenberg, to amend the Lease and Rent Commencement date August 1, 2020;
2. Amend the Base Year from 2019 to 2020 to be consistent with the new commencement date in the Basic Lease Information; and
3. Authorize the City Manager, or de signee, to execute the Amendment, including making minor, non-substantive changes, and to sign all documents and instruments necessary to complete the transaction.
RECOMMENDATIONS
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