...Title
Ground Lease with Bimbo Bakeries USA, Inc. at Phoenix Sky Harbor International Airport (Ordinance S-46388)
Description
Request to authorize the City Manager, or his designee, to enter into a ground lease (Lease) with Bimbo Bakeries, Inc. (Bimbo Bakeries) at 3115 E. Madison St. for three years with no options to renew.
Report
Summary
Bimbo Bakeries operates several locations in the Phoenix Metro area providing baked goods to its customers. Bimbo Bakeries has requested to lease an Aviation owned parcel, that is approximately 65,340 square feet, located at the northeast corner of 3115 E. Madison St. Bimbo Bakeries will use this parcel of land to park tractor trailer trucks and will be responsible for any necessary fencing to secure the vehicles.
Contract Term
The term of the Lease will be three years with no options to renew.
Financial Impact
Annual rent will be approximately $65,340 ($1 per square foot), adjusted annually based on the Phoenix Mesa Consumer Price Index. Total anticipated revenue over the term of the Lease will be approximately $196,020.
Location
3115 E. Madison St.
Council District: 8
Department
Responsible Department
This item is submitted by Deputy City Manager Deanna Jonovich and the Aviation Department.