CLARK COUNTY BOARD OF COMMISSIONERS
AGENDA ITEM
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Petitioner: |
Shauna Bradley, Director of Real Property Management |
Recommendation:
title
Approve and authorize the Director of Real Property Management and/or her designee to sign the Amendment IV to Lease Agreement between Clark County and Leonardi Properties, Inc., for ± 8,715 SF of office and warehouse space at 100 Spectrum Blvd, Las Vegas, NV, occupied by Public Response Office and authorize the Director or her designee to sign any other necessary documents related to management of the Lease. (For possible action)
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FISCAL IMPACT:
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Fund #: |
1010.000 |
Fund Name: |
N/A |
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Fund Center: |
1120102000 |
Funded PGM/Grant: |
N/A |
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Amount: |
$109,809/annual |
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Description: |
Extend term of Lease |
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Additional Comments: |
N/A |
BACKGROUND:
Clark County (County) and Leonardi Properties, Inc. entered into an agreement entitled “Standard Industrial/Commercial Single-Tenant-Lease-Gross” dated September 8, 2003, along with Amendment I, Amendment II, and Amendment III for ± 8,715 SF of office and warehouse space at 100 Spectrum Blvd (Lease) for Public Response use. The County’s current Lease expiration date is September 30, 2026, with no options remaining to extend.
The Amendment IV will renew the Lease for One (1) year term commencing October 1, 2026, and terminating on September 30, 2027, with two (2) one (1) year options to extend.
The monthly rent shall increase from $0.80 per square foot ($6,945) to $1.05 per square foot ($9,150.75), which would still be under today’s market rate of $1.30 per square foot.
For Option Year One, the rent will increase 10% to $1.15 per square foot, and in Option Year Two, the rent will increase 10% to $1.25 per square foot; both rates would still be under today's market rate.
This Amendment IV was presented to Long Range Planning on May 13, 2026.