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1 RiversideCA.gov
1 RiversideCA.gov
THIRD AMENDMENT TO STANDARD
INDUSTRIAL/COMMERCIAL SINGLE-TENANT
LEASE FOR STORAGE LOCATED AT 4049
BURGESS WAY FOR A THREE-YEAR TERM
City Council
OCTOBER 20, 2026
Community & Economic Development Department
RiversideCA.gov
2 1. May 30, 2018 – City, on behalf of the Museum, entered into a Lease agreement with the Campbell Family Trust
for use of 3,176 square feet of storage space located at 4049 Burgess Way.
2. June 18, 2019, City entered into a First Amendment
extending the Lease for three additional years.
3. October 11, 2022, City entered into a Second
Amendment extending the Lease for four additional
years.
BACKGROUND
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2 RiversideCA.gov
3 1. Museum leased space to prepare for a Measure Zfunded renovation of the downtown museum site.
2. Warehouse used to store furniture, equipment needed
during construction and renovation, and other items.
3. Museum desires to continue the current Lease for an
additional three years with two one-year options to
extend.
DISCUSSION
RiversideCA.gov
4 SUMMARY OF BASE RENT
Year Monthly Rent Annual Increase Annual Base Rent
2026‐2027 $3,591.11 3% $43,093.32
2027‐2028 $3,698.84 3% $44,386.08
2028‐2029 $3,809.81 3% $45,717.72
Sub‐Total $133,197.12
Option Year 1 – $3,924.10 3% $47,089.20
2029‐2030
Option Year 2 – $4,041.82 3% $48,501.84
2030‐2031
Sub‐Total $95,591.04
Total $228,788.16
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3 RiversideCA.gov
5 That the City Council:
1. Approve the Third Amendment to Standard Industrial/Commercial Single-Tenant Lease (Attachment 1 – Third Amendment) between the City of Riverside (City), and the Stephen and Lisa Campbell Family Trust (Lessor), for the use of a storage facility located at 4049 Burgess Way for a three-year term with two one-year options to extend in the amount of $133,197.12 for base rent for the initial threeyear term plus $1,743.26 for the transition period for a total of $134,940.38; and
2. Authorize the City Manager, or his designee, to execute the Third Amendment, including making minor, non-substantive changes, and to execute the two oneyear options to extend, and to execute all documents necessary to complete the transaction.
RECOMMENDATIONS
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