FIRST AMENDMENT TO INDUSTRIAL SPACE LEASE
Exhibit 10.5
FIRST AMENDMENT TO INDUSTRIAL SPACE LEASE
THIS FIRST AMENDMENT TO INDUSTRIAL SPACE LEASE (this “First Amendment”) is dated as of
November 30, 2006, by and between 4300 Venture 6729 LLC, a Delaware limited liability company
(“Landlord”) and DSW Inc., an Ohio corporation (“Tenant”).
RECITALS:
A. By that certain Lease Agreement dated as of March 22, 2000 (the “Original Lease”) as
amended by that certain Modification Letter dated June 1, 2001 (the “Modification Letter”)
(collectively hereinafter referred to as the “Lease”), between 0000 Xxxx Xxxxx Xxxxxx LLC, an Ohio
limited liability company (“0000 Xxxx Xxxxx Xxxxxx”) and Shonac Corporation, an Ohio corporation
(“Shonac”), 0000 Xxxx Xxxxx Xxxxxx leased to Shonac and Shonac leased from 0000 Xxxx Xxxxx Xxxxxx
that certain space consisting of approximately 707,092 square feet of area in Building No. 6 (the
“Premises”) of the Columbus International Aircenter, which Premises are commonly known as 0000 Xxxx
Xxxxx Xxxxxx, Xxxxxxxx, Xxxx 00000.
B. Shonac changed its name to DSW Inc., an Ohio corporation.
C. 0000 Xxxx Xxxxx Xxxxxx assigned all of its rights, title and interest in and to the Lease
to 4300 Venture 6729 LLC, a Delaware limited liability company.
D. Landlord and Tenant desire to extend the term of the Lease and to amend the Lease in
certain other particulars, as more specifically set forth herein.
E. The Lease and this First Amendment are hereinafter collectively referred to as the “Lease”.
Unless otherwise provided herein, all capitalized words and terms in this First Amendment shall
have the same meanings ascribed to such words and terms as in the Lease.
NOW THEREFORE, for and in consideration of the mutual covenants and agreements hereinafter set
forth, and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Landlord and Tenant hereby agree as follows:
1. Term. Pursuant to Section 1.2 of the Original Lease, Tenant hereby elects to
exercise the First Option Term of the Lease upon the same terms, covenants and agreement as are set
forth in the Lease including, without limitation the Annual Rent set forth in Section 1.5(b)(ii) of
the Lease and second paragraph of the Modification Letter, so as to extend its current term until
December 31, 2021. In consideration of the foregoing, Landlord grants to Tenant the right to
exercise a Fourth Option Term (Lease Years 31-35) upon the same terms, covenants and agreement as
are set forth in the Lease, except that the Annual Rent for such Fourth Option Term shall be as
follows:
Annual Rent: $3,181,914.00 Monthly Installments: $265,159.50
($4.50/s.f.)
2. Trailer Parking.
Upon execution of this First Amendment and until such time permanent trailer parking spaces
are available to Tenant, Landlord shall cooperate in good faith with Tenant to secure temporary
trailer parking spaces for Tenant’s use, which may include other property leased by Landlord or its
affiliates. Any and all costs associated with Landlord’s cooperation or Tenant’s use of any such
temporary trailer parking spaces shall be at Tenant’s expense.
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Landlord and Tenant agree that Section 21.17 of the Original Lease shall be amended by
deleting the second, third and fourth sentences of the second paragraph which relate to Tenant’s
right to use the parking lot located across Fifth Avenue.
3. Parking Renovation and Signage.
Tenant is constructing extensive improvements to property immediately adjacent to the Premises
that is owned by an affiliate of Landlord. As a part of Tenant’s construction, Tenant shall have
the right to renovate and improve the portion of the Premises comprising the parking area located
to the immediate west of the Premises, subject to Landlord’s reasonable approval of Tenant’s plans
and specifications for such work. Tenant’s renovations and improvements may include work to the
parking areas, landscaping and the construction and placement of a monument sign. All such
improvements shall be at Tenant’s sole cost and expense. Landlord shall reasonably cooperate with
Tenant in Tenant’s efforts and in obtaining any approvals or consents desired by Tenant; provided
however, all cooperation shall be at Tenant’s cost.
4. Expansion Area. Landlord and Tenant agree that Section 21.24 of the Original Lease
shall be deleted in its entirety.
5. This First Amendment contains the entire agreement between the parties with respect to the
subject matter herein contained and all preliminary negotiations with respect to the subject matter
herein contained are merged into and incorporated in this First Amendment and all prior documents
and correspondence between the parties with respect to the subject matter herein contained are
superseded and of no force or effect, other than the Lease.
6. Except as specifically set forth in this First Amendment, all provisions of the Lease shall
remain in full force and effect and are not modified by this First Amendment, and the parties
hereby ratify and confirm each and every provision thereof.
7. This First Amendment may be executed in any number of counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same instrument.
(Signatures on following page)
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