HomeMy WebLinkAbout2016-02-22 16-098 ORDER_COUNCIL ACTION
Item No. 16-098
Date: February 22, 2016
Item/Subject: ORDER, Authorizing the City Manager to Execute a Lease Agreement between Wayfair
Maine, LLC and the City of Bangor — 690 Maine Avenue (Map 102, Lot 006)
Responsible Department: Airport
Commentary:
This Order will authorize execution of a lease agreement between the City of Bangor and Wayfair Maine,
LLC for office space at 690 Maine Avenue. Wayfair, headquartered in Boston, is one of the world's
largest online destinations for home furnishings and home goods. They have grown dramatically since
2002 and are now a publicly traded company with over $1.3 billion in sales in 2014. This facility will
provide call center operations for customer support and expects to employ 450 full time employees.
If approved, the base rent for the lease will be $16,250.00 per month, increasing to $17I '725.00 in
month 61. The term of the lease is for seven (7) years, with two (2) five-year options for extensions,
and a 3% increase in base rent during each extension term.
This was item reviewed in Pre -Council Executive Session on February 8, 2016.
Tony Caruso
Department Head
Manager's Comments:
City Manager
Associated Information:
Budget Approval:
Legal Approval:
Introduced for
_X Passage
First Reading
Referral
Finance Director
Solicitor
Page 1 of _1_
16-098
FEBRUARY 22, 2016
Assigned to Councilor Graham
CITY OF BANGOR
(TITLE.) ORDER, Authorizing the City Manager to Execute a Lease Agreement between
Wayfair Maine, LLC and the City of Bangor — 690 Maine Avenue (Map 102, Lot
006)
WHEREAS, the City of Bangor, Maine is the owner of an building located at 690 Maine
Avenue in Bangor, County of Penobscot, State of Maine; and
WHEREAS, Wayfair Maine, LLC wishes to lease this space to operate a customer service
call center at this location; and
WHEREAS, the City and Wayfair Maine, LLC wish to enter into a lease agrement
outlining the terms and conditions for the rental of 690 Maine Avenue.
NOW, THEREFORE, BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF
BANGOR,
That Catherine M. Conlow, City Manager, is hereby authorized on behalf of the City of Bangor to
execute a lease agreement between Wayfair Maine, LLC and the City of Bangor for rental of 690
Maine Avenue, Bangor. Said lease agreement shall include the following terms and conditions:
term of for seven years, with two five-year renewal options; a base rent of $16,250.00 per
month beginning the third month of occupancy, adjusted to $17,725.00 per month in month
61; tenant improvements having a value of $479,900.00 paid for by the City; real estate taxes
and utilities paid by the tenant; and such other terms and conditions as appropriate. The lease
agreement shall be in final form as approved by the City Solicitor or Assistant City Solicitor.
IN CITY COUNCIL
FEBRUARY 22, 2016
MOTION MADE AND SECONDED FOR PASSAGE
PASSED
CITY CLERK