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LEASE AGREEMENT WITH EAGLE LOGISTICS & WAREHOUSING, INC., FOR OFFICE AND WAREHOUSE STORAGE SPACE FOR 5-YEAR TERM AND $1,002,708 MILLION City CouncilMay 20, 2025GENERAL SERVICES DEPARTMENT& POLICE DEPARTMENT RiversideCA.gov2
•February 25, 2025– City Council approvedpurchase of 9518Magnolia Avenuefor $1,895,000 and $300,000 for associated costs –supplemental appropriation of $2,195,000•Property identifiedas a strategic acquisitionto support revitalizationof Arlington Village andsecure neededspace for RPD•Intend to utilize and holdproperty temporarily until it can be sold•Once purchased and all inspections are complete,tenantimprovements will begin, if feasible•Magnolia Avenue Propertyhas potential to temporarily assist RPDwith space needs/relocation concerns, but isnot move in readyBACKGROUND1 2 5/8/2025
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DISCUSSION•Garner Road Property:–15,950 square feet of both furnished office and warehouse space*Move in ready–Satisfies space needsfor both personnel and storage due to recruitingsuccess–Significantlydiscounted at start of leasewith increases of 4.5% yearover year of lease term–Alleviates current overcrowding at Lincoln and Magnolia andimproves operational efficiency–Study will outline permanent future needs RiversideCA.gov4
DISCUSSION Lease Terms 5-years (June 1, 2025 - May 31, 2030) Lease Amount $984,708 over 5 yearsAppropriation RequestedAll UtilitiesCity Responsible Security Deposit$18,000City Responsible
Maintenance & RepairsCity Responsible after 18 months *most items Landscape MaintenanceOwner responsible Property TaxesOwner responsible at current rate;City responsible for tax 3 4
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Strategic Priority 6 – Infrastructure, Mobility & Connectivityand Goal 6.2 Strategic Priority 2 – Community Well-Beingand Goal 2.4Cross-Cutting Threads
STRATEGIC PLAN ALIGNMENT
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That the City Council:1. Approve the Standard Industrial/Commercial Single-Tenant LeaseAgreement with Eagle Logistics & Warehousing, Inc., for a 15,950square foot industrial building located at 4100 Garner Road, for afive-year term, for office space and storage of vehicles andequipment in the amount of $1,002,708; and2. Authorize the City Manager, or designee, to negotiate and executethe Standard Industrial/Commercial Single-Tenant LeaseAgreement with Eagle Logistics & Warehousing, Inc., for a 15,950square foot industrial building located at 4100 Garner Road, for afive-year term, for office space and storage of vehicles andequipment in the amount of $1,002,708, including the ability tomake minor, non-substantive changes.RECOMMENDATIONS5 6