8g. Presentation

Lease with Arctic Storm Management Group LLC (ASMG) at P

Item No.            8g supp
Date of Meeting         May 10, 2022
New 5-Year Lease with
Arctic Storm Management Group LLC
at Pier 69

ASMG Location Map


ASMG Premises
Pier 69 Floor 1


ASMG Lease
Key Terms
Occupancy Status                               Renewal
Premises square feet                               19,660
Warehouse               10,230
Office                        9,430
Commencement date                      June 1, 2022
Initial Term                                            60 months
# of Extension Options             1
Option period            60 months
Base Rent - 1st Year Blended ($/sf/yr)                $14.45
Annual Rent Escalation                                3.0%
Abatement                                      None
Port Funded Expenses                          $216,894
Tenant Improvements    $141,450
Tenant Broker Fees       $75,444
Security Deposit                                   $75,004
RE-2 Calculation          $79,957
Security Shortfall            ($4,953)


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