11-28-2007 Council Agenda - Laserfiche WebLink

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SUNTIDE .y- C O M M E R C 1 A L "ligaIS R E A L T Y, I N C October 15, 2007 Terry and Jill Andert 2340 East Shawnee North St. Paul, MN 55109 Re: Proposal to Lease at Thunder Bay Plaza 2550 University Avenue W., Suite 416-5 St. Paul, MN 55114 -1904 Phone (651) 603 -0321 Fax (651) 603-0305 website — www.suntide.com Dear Terry and Jill: On behalf of the Landlord, Miles Group, Inc., we are pleased to present the following Proposal outlining the terms and conditions to you to lease approximately 888 square feet at Thunder Bay Plaza. 1. Building: 2. Existing / Premises: 3. Term: 4. Rent Commencement Date ( "Date "): 5. Annual Base Rent: (based on 888 sf) 6. Operating Expenses: 7. Use of Premises: 8. Financial Statements: Thunder Bay Plaza 27 -49 Little Canada Road E, Little Canada, MN 55117 Approximately 888 SF Five (5) Years, provided Tenant is not in default, monetary or otherwise, of the articles contained in the Lease Agreement. The base rent shall commence thirty (30) days from the delivery of the premises. Period PSF Year 1 $10.00 Years 2 & 3 $10.50 Years 4 & 5 $11.00 Monthly Annually $740.00 $8,880.00 $777.00 $9,324.00 $814.00 $9,768.00 In addition to Annual Base Rent, Tenant shall be responsible to pay its proportionate share of Common Area Maintenance (CAM) and Real Estate Taxes. Said CAM and Real Estate Taxes are estimated for 2007 at $3.60 per square foot. Estimated monthly amount shall equate to $266.40 approximately. Said CAM and Real Estate Taxes shall be reconciled each year and shall be adjusted accordingly. The primary business use is a retail store for handmade soaps, lotions and perfumes, production of said items, classes for producing said items and a massage therapy room. Tenant shall provide Landlord with its two most recent financial statements.