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LEASES
There are currently a total of thirty-six tenants at Southtowne Commerce Center, with only one vacancy of 1,250± square
feet, in Building Five. Three of the tenants are federal agencies (BLM, USGS, FAA) and thirty-three tenants are private.
Tenants are responsible for utilities, garbage and janitorial expenses. The landlord is responsible for water / sewer,
maintenance, taxes, and security etc. All thirty-three private tenants are on a month-to-month lease; federal agencies are
on leases. Copies of all leases are available as part of the Supplemental Information Package with Bid Documents.
Total monthly income as of May, 2018 is $57,365 based on 99% occupancy. $28,980 is from the three federal agencies, and
$28,385 is from the thirty-three private tenants.
Federal Agencies
BLM
– The first BLM lease in 1988 was for a ten-year term until 1998. The current BLM lease for the Klamath Falls Field
Office Complex of 20,690± square feet plus fenced yard had an initial fifteen year term beginning in August, 1998, which
was extended to July, 2020.
The BLM recently invested $73,000 in entry space remodel and power gate upgrade. The BLM lease was expanded to
also include the 12,415± square foot Building Three for its fire crew, which was added in May, 2003.
It is anticipated by the seller that the BLM will want to continue its tenancy at Southtowne, providing a new owner op-
portunity to obtain a new lease, or an extension.
Total monthly income from the BLM lease is $20,850.
USGS
– The USGS lease includes 2,500± square feet of space in Building Five, and 6,254± square feet in Building Two,
with a fenced yard. The lease has a ten year term which extends to June, 2025, with two five-year options. Total monthly
income from the USGS is $6,400.
FAA
– The FAA lease is for 2,500± square feet of space in Building Five and was signed in 2011, with five year options
extending to 2031. A supplemental lease with option to extend to September 2021 was signed in October, 2016. Total
monthly income from the FAA is $1,730.
4.1 Acres
available for
development
BLM - Klamath Falls
Field Office
BLM
Fire Crew
Fenced yard
Fenced yard
Leasing
Office
Anderson Ave.
Washburn Way
FAA
USGS
USGS
Building Five
Building Three
Building Four
Building Two
Building One
OR CALL 1-800-845-3524
FOR SUPPLEMENTAL INFORMATION AND BID PACKAGE,
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