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File #: 15-19332    Version: 1 Name:
Type: Business Item Status: Agenda Ready
File created: 12/7/2022 In control: City Council Business Meeting
On agenda: 1/23/2023 Final action:
Title: Lease of City-Owned Property at JW Clay Parking Deck
Attachments: 1. Resolution - JW CLAY -PLN


Lease of City-Owned Property at JW Clay Parking Deck




A.                     Adopt a resolution to approve a lease agreement with Carolina Fit Foods, LLC, operating as Project Lean Nation, with a 63-month term for retail space in the JW Clay Parking Deck,


B.                     Authorize the City Manager to renew the lease for up to one, 60-month term, and


C.                     Authorize the City Manager to negotiate and execute all documents necessary to complete the transaction.



Staff Resource(s):

Brent Cagle, CATS

Kelly Goforth, CATS

Lori Lencheski, CATS



§                     The JW Clay Parking Deck serves the LYNX Blue Line in Council District 4 and incorporates approximately 15,470 square feet of leasable space for office and retail, in accordance with the Transit Oriented Development ordinance.

§                     The leasable spaces provide opportunities for retail and business firms to offer goods and services to customers using the Blue Line, along with walk-up customers from surrounding areas.

§                     Project Lean Nation proposes to open a facility for selling supplements; hygiene products and services; wellness and nutrition consumables; and prepackaged meals.

§                     The terms of the lease agreement are as follows:

-                     Approximately 1,711 square feet of retail space in the JW Clay Parking Deck (Suite 211);

-                     A 63-month term, with one option to extend the lease term for an additional 60 months;

-                     Rent in the amount of $3,564.58 per month ($42,774.96 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 

-                     The tenant would pay a share of common area maintenance costs.

§                     Tenants are responsible for improvement costs related to upfit of the parking deck office and retail space.

§                     The city agrees to reimburse the tenant for tenant improvement costs only if the city terminates the lease during the initial term for transit-related activity. The total amount of reimbursable expenses shall not exceed $40 per square foot or $68,440.


Charlotte Business INClusion

This is a real estate leasing and acquisition contract and is exempt (Part A: Appendix 1.27 of the Charlotte Business INClusion Policy).


Fiscal Note

Funding:  Revenue from the lease will be deposited in the CATS Operating Budget