Title
American Airlines Leases
Action
Action:
Approve six leases each with a five-year term with American Airlines to accommodate office and warehouse needs.
Body
Staff Resource(s):
Haley Gentry, Aviation
Ted Kaplan, Aviation
Explanation
§ American Airlines leases office and warehouse space at the Airport to support its airline operations.
§ The American Airlines Lease locations and five-year Lease values include:
- 4818 Express Drive total of 14,282 square feet. Five-year value $474,035
- 4840 Express Drive total of 13,198 square feet. Five-year value $ 541,125
- 4812 Express Drive total of 10,800 square feet. Five-year value $420,645
- 4734 West Blvd. total of 28,675 square feet. Five-year value $732,865
- 5800 Tunnel Rd. total of 17,983 square feet. Five-year value $534,117.50
- 4831 Express Drive total of 23,250 square feet. Five-year value $1,779,375
§ These facilities are currently leased by American Airlines.
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 to be deposited in Airport Operating fund.