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Office of Consent Agenda 091121 2017 <br />INDIAN RIVER COUNTY <br />ATTORNEY rr <br />Dylan Reingold, County Attomey <br />William K. DeBraal, Deputy County Attorney <br />Kate Pingolt Cotner, Assistant County Attorney <br />MEMORANDUM <br />TO: Board of County Commissioners <br />THROUGH: Richard B. Szpyrka, P.E., Public Works Directo <br />FROM: William K. DeBraal, Deputy County Attorney <br />DATE: September 6, 2017 <br />SUBJECT: Assignment of Leases and Rents from Sebastian Corners Retail Center, LLC <br />On September 5, 2017, the County and Sebastian Corners Retail Center, LLC closed on the <br />purchase of real property that will become the site for the North County Office Complex. At the time <br />of closing, four tenants remain in the building: <br />Mattress Firm, Inc. Store #52123 <br />Prime Communications, L.P., d/b/a AT&T <br />A & R Cuban Hospitality, Inc., d/b/a Las Palmas Restaurant <br />Sally Beauty Supply, LLC <br />In accordance with the Agreement to Purchase and Sell Real Estate, the County is now the Landlord <br />of these tenants and is entitled to receive the rental payments from the tenants. These tenants <br />should be formally notified of the sale so the rental payments for September and October will be sent <br />to the County instead of the previous owner. The attached Assignment of Leases and Rents formally <br />provides notice to the tenants. Even though Dollar Tree Stores, Inc: has not renewed its lease and <br />is relocating, it is included on the assignment in case its lease needs to be enforced by the County. <br />It should be noted that Mattress Firm, AT&T and Sally Beauty Supply have their corporate <br />headquarters in the Houston, Texas area and were affected by the flooding. Therefore, the <br />Assignment provides for cooperation between the former owner and the County in case future rental <br />payments are mailed to the former owner. <br />Funding. There is no funding associated with this matter. <br />Recommendation. Staff recommends the Board approve the Assignment of Leases and Rents <br />from Sebastian Corners Retail Center, LLC, and authorize the. Chairman to execute the document <br />on behalf of the Board. <br />Attachment: Assignment of Leases and Rents from Sebastian Corners Retail Center, LLC <br />P251 <br />