Title
World Link Wireless, Inc. Lease at the Charlotte Transportation Center
Action
Action:
A. Adopt a resolution approving a five-year lease agreement with World Link Wireless, Inc. for operation of a mobile phone retail store at the Charlotte Transportation Center, and
B. Authorize the City Manager or his designee to execute all necessary agreements and other documents to complete this transaction.
Body
Staff Resource(s):
John Lewis, CATS
Allen C. Smith III, CATS
Explanation
§ The city uses the Charlotte Transportation Center (CTC), located in Council District 1, as the main terminal and transfer point for Charlotte’s public transit system.
§ The leasable spaces within the CTC provide opportunities for retail and business firms to offer goods and services to customers using the Charlotte Area Transit System.
§ World Link Wireless, Inc. would like to lease retail space at the CTC to operate its Boost Mobile, mobile phone store.
§ The terms of the lease renewal agreement are as follows:
- Approximately 316 square feet of retail space in Suite A110 located in the CTC;
- A five-year term;
- Rent in the amount of $2,640 per month ($31,680 per year) for year one, escalating at a rate of three percent annually for each year thereafter. This rate is consistent with market rates; and
- Tenant agrees and understands that future transit-related development may result in the early termination of the lease.
Fiscal Note
Funding: Revenues from the lease will be deposited in the CATS Operating Budget.
Attachments
Attachment(s)
Resolution