The Johns Creek City Council has approved a lease extension — to cost $460,000 the first year — to have the police department headquarters remain at 11445 Johns Creek Parkway until its new space is available in a building acquired by the city earlier this year.
The police department occupies about 20,000 square feet on the top floor of the Johns Creek Parkway building. Eventually, it will move with other city operations to 11360 Lakefield Drive, but that’s not expected for at least a year due to needed renovations and the fact, that building has a tenant whose lease runs through June 2019, according to a staff report to the council.
The current police headquarters lease ends in November. A lease extension negotiated by city staff with property manager Realco GA 001 LLC has a base renewal period of one year, through Nov. 30, 2018; and four renewals through November 2020, with rent increases each succeeding year.
Annualized, the rent works out to $460,000 the first year of the lease extension, $470,000 the second year and $480,000 the third.
About the Author
