REDACTED JOTFOC MEMO - 0NY2719 - Lease Extension.pdf

Memo To File

U.S. General Services Administration

GSA Region 2

PBS Leasing Division

JUSTIFICATION FOR OTHER THAN FULL AND OPEN COMPETITION

August 26, 2020

Agency Name:

Project Number: 0NY2719

Lease Location:

Lease Extension: One (1) Month

Lease Summary:

The General Services Administration currently leases 3,475 rentable/ABOA square feet of retail/office and related space including fifteen (15) surface parking spaces for at under lease number GS-02P-LNY00663, which commenced on December 1, 2019 and expires November 30, 2020. PBS Region 2 is requesting approval for a one (1) month term extension commencing on December 1, 2020 and terminating on December 31, 2020 at a total contract value of with the incumbent Lessor without full and open competition for continued occupancy at the existing leased location.

This short term lease extension is required due to a construction delay caused by the COVID-19 pandemic under the new long term lease, GS-02P-LNY24244, located at

The present office and related space located at is located within the delineated area of central Staten Island and also located near to the new long term lease location at is not located in a flood zone. There is no available vacant federal space inventory for this requirement and few alternative full service rental spaces are available for this one (1) month lease extension.

GSA’s market research for retail/office alternatives in New York City’s borough of Staten Island on Loopnet.com generated few alternatives because retail space is offered for purchase or as a triple net (NNN) lease. A triple net (NNN) lease is a lease that only provides a cold shell, where the lessee pays for taxes, fees, and insurance. In a triple net lease, the lessee is also responsible for property maintenance in addition to rent and utilities.

The total estimated contract value of this lease term extension is calculated as follows:

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On August 29, 2020, the GSA R2’s independent market research on Loopnet.com identified two

(2) potentially acceptable locations (one (1) plus the incumbent) that might meet the agency’s requirements within the delineated area (market research attached).

See Figure 1: Market Research Comparables below for the results of the GSA’s market research:

Address Source:

(GSA Market Research) Rent Per Square Foot

Incumbent Lessor

GSA Research – Loopnet.com

Figure 1: Market Research Comparables

The GSA requests a lease term extension of 3,475 rentable/ABOA square feet of retail/office and related space including fifteen (15) surface parking spaces for the located at under lease agreement number GS-02P-LNY00663. This lease extension will commence on December 1, 2020 and expire on December 31, 2020.

The total estimated contract value for this one (1) month lease term extension is: .

Moreover, a Formal Cost Benefit Analysis shows a aggregate saving associated with staying in place at in comparison to the lowest cost alternative, (Formal Cost Benefit Analysis attached).

The GSA is requesting a one (1) month lease extension due to COVID-19 pandemic construction delays at new long term lease site, (lease number: GS-02P-LNY24244), located at

It is paramount to mission to continue their occupancy without interruption at for one (1) additional month and this short term lease extension is in the Government’s best interest and this justification is accurate and complete to the best of the GSA Lease Contracting Officer’s knowledge and belief.

__________________________________________ Date_____________________

Laurence Wendorf Leasing Specialist

_________________________________________ Date_____________________

Rita Bradley Lease Contracting Officer

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