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CFrp 9F sVK <br />City of Sunny Isles Beach <br />18070 Collins Avenue <br />Sunny Isles Beach, Florida 33160 <br />(305) 947-0606 City Hall <br />(305) 949-3113 Fax <br />MEMORANDUM <br />TO: Honorable Mayor and City Commissioners <br />VIA: Stan Morris, City Manager <br />FROM: Susan Simpson, Deputy City Manager. <br />DATE: January 16, 2025 <br />RE: Approval of a Lease Agreement with the United States Post Office <br />RECOMMENDATION: <br />Staff recommends approval of this Resolution. <br />REASONS: <br />The City of Sunny Isles Beach entered into a lease agreement with the United States Postal Service <br />("Postal Service") in April 2020. The lease agreement is set to expire in March 2025. The Postal Service <br />has agreed to the first renewal option, effective April 1, 2025 through March 31, 2030, for a per annum <br />rental amount of $65,400. <br />ADDITIONAL INFORMATION: <br />This will be the 4th lease agreement with the US Postal Service to operate the post office at the <br />Government Center. A market analysis for rent was conducted to establish the rate for this renewal. It <br />represents and increase of $26,400. Previous rent revenue for this space is as follows: <br />2005 - 2010 = $8,400 <br />2010 - 2015 = $21,000 <br />2015 - 2020 = $25,200 <br />2020 - 2025 = $39,000 <br />Item Number: 9.W <br />543 <br />