Item No. _____5c________ 
Date of Meeting __October 8, 2013_ 


Kirby Offshore Marine Lease 
October 8, 2013

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Background 
Long term tenant since 1998, supporting the mission of
the Maritime Industrial Center 
Leading provider of marine transportation, distribution,
and logistics services in the United States
Water dependent commercial maritime tenant 
Provider of thousands of maritime jobs with a
customized training program

Market Conditions & Rate Setting 
Overview of Market 
Methodology 
Brokers 
Co-Star 
Recent Appraisal

Terms of Lease 
Market Low  Market High    Lease      Area 
Proposal 
Office       $12.50 sf/yr   $15.50/sf/yr      $15.25/sf/yr     8,640 sf 

Warehouse   $6.00/sf/yr   $7.80/sf/yr     $7.00/sf/yr    9,047 sf 

Land/Yard    $1.80/sf/yr    $2.40/sf/yr      $3.33/sf/yr     21,250 sf 

Moorage    $111.36/lf*/yr  $141.60 lf/yr    $155.25/lf/yr   356 lf 

* lineal feet

Other Business Terms 
Term:   5 years w/ two 5-year options to renew at
market rate 
Rent increase:  Annual CPI increase 
Maintenance & Utilities: Port responsible for roof,
structure and foundation of A-1 Building. Lessee
responsibility for all other maintenance 
Tenant improvements: $20,000 
Net Present Value: $1.4 million 
Broker fee:     None