TITLE
Recommendation to authorize City Manager to execute all documents necessary for a Consent Agreement between the City of Long Beach (Master Landlord) and West Marine Products, Inc., a California corporation (Subtenant), for City-owned property and improvements at 251 Marina Drive within the Alamitos Bay Marina Center. (District 3)
DISCUSSION
On February 1, 1994, the City Council authorized the execution of Master Lease No. 23509 (Master Lease) with BANCAP Marina Center, Inc. (Master Tenant), for the remodeling, renovation, and management of City-owned property and improvements at the former Marine Bazaar Complex located at 241-255 Marina Drive. Following the completion of the renovations, the existing tenant leases were assigned to the Master Tenant and the property was renamed the Alamitos Bay Marina Center (ABMC). ABMC is currently occupied by the following subtenants: Stan Miller Yachts (boat broker); Alan Andrews Yacht Design (custom yacht design); West Marine Products (marine retail sales); Scuba Duba (boat hull cleaning and maintenance service); Schooner or Later (restaurant); and the Seal Beach Yacht Club (social club). The Master Lease provides for a 25-year term and will terminate on June 30, 2019.
Concurrent with the authorization of the Master Lease, the City Council authorized the execution of a new lease with West Marine Products, Inc. (West Marine), for approximately 11,000 square feet of retail space, for an initial term of ten years with two five-year options to extend the lease through June 30, 2014. Immediately following its execution, the City assigned its interest in the new West Marine lease (Sublease) to the Master Tenant.
West Marine is the nation’s largest marine retailer and has been serving the Long Beach boating community at the ABMC for over thirty years. Marine retail sales is one of the key types of uses within the Tidelands area, and West Marine continues to expand its line of products to meet the ongoing needs of t...
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