Current Tenant & Lease Structure

Tenant – RoadSafe Traffic Systems, Inc.

A member of the American Road & Transportation Builders Association and American Traffic Safety Services Association. “Headquartered in Chicago, Illinois, RoadSafe Traffic Systems, Inc., is the nation’s largest provider of traffic control and pavement marking services to roadway, construction, state transportation, railroad and utility customers in the U.S. RoadSafe also distributes high quality, innovative and durable traffic safety products and personal protective equipment for traffic work zones. The company operates from more than 50 locations with over 1,600 employees, enabling it to service all 48 continental states. The company has become a market leader and delivered consistent growth by providing exceptional services that solve mission-critical challenges, like maintaining worker safety while upgrading the nation’s critical infrastructure and facilitating pavement marking for the next generation of vehicles.” Taken from www.roadsafetraffic.com

Rate – Current Base Rent is $12,360 per month through March 2024 with 3% annual increases through the end of the term.

Commencement Date – Tenant has leased the property since March 7, 2022.

Term Remaining – Primary Term expires on March 6, 2032.

Renewal Options – Tenant has 2 additional 5-year extension renewal terms.

Lease Structure – Lease is structured on a NNN basis where Landlord is responsible for the foundation, structural systems including the roof, walls, paved driveways, parking areas and plumbing systems. Tenant is responsible for taxes, insurance, and all maintenance and routine repairs including HVAC, plumbing, electrical systems, grass and shrubbery. Tenant’s repair, maintenance and replacement obligations are subject to a maximum annual aggregate cap of $12,500 (except ordinary maintenance and landscaping). Landlord is responsible for maintenance, repairs and replacements over the expense cap. Tenant is allowed a $500/unit/year cap on maintenance and repairs to all HVAC units and is responsible to replace air filters (provided by Landlord) every other month.