PROPERTY DESCRIPTION Terminal 2 Rental Auto Parking Aerial

119 Pages·2015·2.71 MB·English

PROPERTY DESCRIPTION

Terminal 2 Rental Auto Parking Aerial

15066R-1-28 SHENEHON COMPANY 109
PROPERTY DESCRIPTION
MAP – TERMINAL 2 RENTAL AUTO PARKING

15066R-1-28 SHENEHON COMPANY 110
PROPERTY DESCRIPTION
PARCEL 25 – MEDICAL CLINIC
Use: Medical Clinic
Location: Northwest quadrant of 34th Ave South and Airport
Lane
Accessibility: Good, via 34th Avenue South
Utilities: Municipal water, sanitary sewer, storm sewer,
electricity, natural gas, and telephone
Approximate Shapes: Rectangular
Topography: Generally level and at grade with fronting street;
well-drained
Soils: Soils have not been tested but are assumed stable
Improvements (Not Appraised): Medical office building, paving, concrete sidewalks,
lighting, landscaping, and other various land
improvements
Apparent Easements or Restrictions: None revealed nor apparent which would adversely
impact value. Refer to legal description of record
for specific details of any possible easements or
restrictions.
Land Area: 158,929 square feet or 3.65 acres

15066R-1-28 SHENEHON COMPANY 111
PROPERTY DESCRIPTION
PARCEL 25 – MEDICAL CLINIC – LEASE SUMMARY
Property Classification: 2b. Commercial/rental auto land without percentage
rent agreement
Lessor: Metropolitan Airports Commission
Lessee: Delta Airlines
Subleasee: DRF Airport Medical LLC
c/o Frauenshuh Companies
Sub-subleasee: Health System Minnesota
Leased Area: 158,929 square feet or 3.65 acres total
Term: 30 years
Lease Commencement: February 28, 2001
Lease End: January 31, 2031
Lessee Options to Extend: None stated in lease
Current Annual Base Rent: $2,648.82
Current Annual Base Rent PSF: $0.20
Escalations: Metropolitan Airport Commission reserves the right
to adjust up or down every 5th year in accordance
with appraisal process beginning October 1, 2002.
Expenses: All paid by Leasee, Subleasee, or Sub-subleasee

15066R-1-28 SHENEHON COMPANY 112
PROPERTY DESCRIPTION

Parcel 25

15066R-1-28 SHENEHON COMPANY 113
PROPERTY DESCRIPTION
MAP – PARCEL 25

15066R-1-28 SHENEHON COMPANY 114
PROPERTY DESCRIPTION
PARCEL 26 – BUDGET RENT-A-CAR SERVICE SITE
Use: Budget Rent-A-Car Service Car Facility
Location: Northwest quadrant of 77th Street and Longfellow
Avenue
Accessibility: Good, via 77th Street
Utilities: Municipal water, sanitary sewer, storm sewer,
electricity, natural gas, and telephone
Approximate Shapes: Teardrop
Topography: Generally level and at grade with fronting street;
well-drained
Soils: Soils have not been tested but are assumed stable
Improvements (Not Appraised): Service building, paving, lighting, landscaping, and
other various land improvements
Apparent Easements or Restrictions: None revealed nor apparent which would adversely
impact value. Refer to legal description of record
for specific details of any possible easements or
restrictions.
Land Area: 277,913 square feet or 6.38 acres

15066R-1-28 SHENEHON COMPANY 115
PROPERTY DESCRIPTION
PARCEL 26 – BUDGET RENT-A-CAR SERVICE SITE – LEASE SUMMARY
Property Classification: 2b. Commercial/rental auto without percentage rent
Lessor: Metropolitan Airports Commission
Lessee: Budget Rent-A-Car System, Inc.
Leased Area: 277,913 square feet or 6.38 acres total
Term: 12 years
Lease Commencement: January 24, 2004
Lease End: December 31, 2016
Lessee Options to Extend: None stated in lease
Current Annual Base Rent: $97,269.55
Current Annual Base Rent PSF: $0.35
Escalations: Metropolitan Airport Commission reserves the right
to adjust up or down every 5th year in accordance
with appraisal process. The first adjustment may
occur no sooner than October 1, 2002.
Expenses: All paid by Tenant

15066R-1-28 SHENEHON COMPANY 116
PROPERTY DESCRIPTION

Parcel 26

15066R-1-28 SHENEHON COMPANY 117
PROPERTY DESCRIPTION
MAP – PARCEL 26

15066R-1-28 SHENEHON COMPANY 118