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INDIAN RIVER COUNTY, FLORIDA <br />MEMORANDUM <br />TO: <br />Jason E. Brown, County Administrator <br />THROUGH: <br />Richard B. Szpyrka, P.E., Public Works Director <br />FROM: <br />Andrew Sechen, Land Acquisition Specialist <br />SUBJECT: <br />Sally Beauty Supply LLC — Third Amendment to Lease <br />DATE: <br />July 20, 2022 <br />DESCRIPTION AND CONDITIONS <br />The County purchased Sebastian Corners Retail Center, LLC located at 1919-1931 US Highway 1, <br />Sebastian, Florida on September 5, 2017. The purchase was for the relocation of the North County <br />Offices of the Tax Collector, Property Appraiser, Clerk of the Court, Utilities Department and Veteran <br />Services. <br />Sally Beauty Supply LLC is a tenant at the retail center and they rent a 1600 square foot unit. The current <br />lease term was 12/1/21-11/30/22. Staff has been negotiating with Cushman & Wakefield who handles <br />Sally Beauty lease renewals. <br />We have agreed to renew the lease for a (2) two year term. The renewal term will be 12/1/22 — <br />11/30/24. The base monthly rent will increase from $1,666.67 ($12.50 per square foot or $20,000.04 <br />annually) to $1,933.33 ($14.50 per square foot or $23,199.96 annually). <br />FUNDING <br />No funding is necessary for this action. <br />RECOMMENDATION <br />Staff recommends the Board approve the Third Amendment to the Lease as proposed for Sally Beauty LLC <br />and authorize the Chairman to execute the Third Amendment to the Lease on behalf of the Board. <br />ATTACHMENTS <br />Third Amendment to Lease <br />Exhibit A - Insurance <br />APPROVED AGENDA ITEM FOR: August 16, 2022 <br />170 <br />