3NJ0258_JOTFOC_justification_memo Redacted.pdf
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- Attached to
- 12 month surface level parking for rent
- Solicitation number
- 3NJ0258
About this file
This is a memorandum to file documenting the justification for a 12-month lease renewal for parking spaces at 42 Central Ave, Newark, NJ 07102 under Lease No. LNJ00798. The memorandum is dated September 12, 2024 and prepared by Alexander Litvak, Leasing Specialist, with approval from Bena Parker, Leasing Contracting Officer.
The GSA is seeking to negotiate a non-firm 12-month renewal option for 7 surface parking spaces for government vehicles. The current lease expires on December 31, 2024. The renewal includes a 30-day termination right and falls below the $250,000 Simplified Lease Acquisition Threshold (SLAT), therefore not requiring a Justification for Other than Full and Open Competition. Market research conducted on November 30, 2023 showed average parking rates in Newark ranging from $184-$325 per space per month, with an average of $282. The proposed renewal rate (redacted in document) is noted as being below market average and considered fair and reasonable by the GSA Lease Contracting Officer. The renewal is needed to maintain government occupancy while GSA finalizes long-term parking requirements.
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Text version
Docusign Envelope ID: D9609D79-9F97-4AD0-97EB-10348782A720
MEMORANDUM TO THE FILE
TO: THE FILE
FROM: ALEXANDER LITVAK
SUBJECT: LNJ00798
DATE: 09/12/2024
Agency:
Lease Location: 42 Central Ave, Newark, NJ 07102
Proposed Term: Request authority to negotiate a 12 month, non-firm added renewal option at the anticipated rent rate of per month per surface parking space, for a total of 7 government vehicles with total annual rent of
Justification Plan: The lease renewal for falls below the $250,000 net annual Simplified lease
Acquisition Threshold (SLAT). As a result, a Justification for Other than Full and Open Competition is not required. The LCO has determined the lease renewal is necessary to protect the Government’s occupancy while GSA finalizes their new, long-term requirements.
Lease Summary: The currently occupies 7 surface level parking spaces at 42 Central Ave, Newark, NJ 07102 under Lease No. LNJ00798, which expires on 12/31/2024.
This renewal is necessary to allow enough time for to determine their long term needs for parking in Newark, NJ. GSA anticipates negotiating a 12 month, one year soft-term renewal, with a 30 day termination right, to protect Government occupancy and ensure the Government has flexible time and termination rights should ’s space needs change upon finalization of their long term requirements.
Determination That Anticipated Costs Will Be Fair And Reasonable: Market research was conducted on
11/30/2023 for parking in the downtown Newark, NJ area using Google search and cold calling. Market research reveals that the average surface parking rate in Newark is about per space per month, with a range from $184 to $325 per space per month. The anticipated added renewal rate of per parking space falls far below the $282 average parking rate in Newark and is on the lower end of the $184 - $325 market range for surface parking spaces in Newark, NJ. The added renewal rate of per surface parking space is considered fair and reasonable by the GSA Lease Contracting Officer due to the mission-critical need to secure Government occupancy while GSA coordinates ’s long term parking requirements. GSA will not award a renewal above the market rental range.
Prepared by:
Docusign Envelope ID: D9609D79-9F97-4AD0-97EB-10348782A720
Alexander Litvak - 2PRC Leasing Specialist
Approved by:
9/13/2024
9/13/2024
Bena Parker – 2PRC Leasing Contracting Officer
File details come from the government source that posted it. Updated .