PO Box 247027, Omaha, NE 68124-7027 | 800-247-5626 | PenFed.org
October 14, 2025
City of Salinas
200 Lincoln Ave
Salina, CA 93901
RE: Potential Sub-lease of the Pentagon Federal Credit Union Building
Dear Lisa,
PenFed Credit Union is currently engaged in discussions to sub-lease our building located in Salinas to another federally chartered credit union. About two weeks ago, the CEO of the other credit union reached out to our PenFed real estate agent/broker, and since then, follow-up conversations have been progressing positively.
This potential sub-lease would ensure that credit union services and competitive pricing remain available to the Salinas community. To facilitate ongoing negotiations with the other credit union and secure necessary approval from Landlord, we are requesting approval for an additional three (3) month period (on top of what is provided in Section
6.3) during which the Improvements would not be continuously operated while we pursue negotiations with the potential subtenant.
We greatly appreciate your continued support during this transition and request a response by Friday, October 22, 2025. Please feel free to contact me by phone or email if you have any questions. My email address is [email protected].
Sincerely,
Michele M. Hart
Michele Hart
Vice President, Global Fixed Assets – Property Management