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A resolution to approve the Twelfth Amendment to the Lease Agreement between The Metropolitan Government of Nashville and Davidson County and Square Investment Holdings, LLC for office space in the Washington Square Building located at 222 Second Avenue North (Proposal No. 2025M-060AG-00).
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WHEREAS, The Metropolitan Government of Nashville and Davidson County (“Metro”) and Square Investment Holdings, LLC are parties to a Lease Agreement approved by Ordinance BL2008-226 to provide office space for various Metro departments; and,
WHEREAS, Metro and Washington Square Holdings, LLC executed a First Amendment to said lease on January 10, 2011, adding space for the Office of the District Attorney for Davidson County, to house its Juvenile Court staff displaced after the May 2010 flood, which lease amendment was approved by BL2011-842; and,
WHEREAS, Metro and Washington Square Holdings, LLC executed a Second Amendment to said lease on October 24, 2013, adding space for the Office of the District Attorney for Davidson County, which lease amendment was approved by RS2013-921; and,
WHEREAS, Metro and Washington Square Holdings, LLC executed a Third Amendment to said lease on March 19, 2014, providing space for Criminal Justice Planning, which lease amendment was approved by RS2014-1016; and,
WHEREAS, Metro and Square Investment Holdings, LLC executed a Fourth Amendment to said lease on April 17, 2019, providing a new space for Criminal Justice Planning and allowing the Office of the District Attorney for Davidson County to utilize the space previously occupied by Criminal Justice Planning, which lease amendment was approved by RS2019-1678; and,
WHEREAS, Metro and Square Investment Holdings, LLC executed a Fifth Amendment to said lease on August 7, 2019, to expand the leased premises within the building, which lease amendment was approved by RS2019-1863; and,
WHEREAS, Metro and Square Investment Holdings, LLC executed a Sixth Amendment to said lease on June 4, 2020, which lease amendment was approved by RS2020-337; and,
WHEREAS, Metro and Square Investment Holdings, LLC executed a Seventh Amendment to said lease on May 8, 2023, which lease amendment was approved by RS2023-2141; and,
WHEREAS, Metro and Square Investment Holdings, LLC executed an Eight Amendment to said lease on August 28, 2023, which lease amendment was approved by RS2023-2267; and,
WHEREAS, Metro and Square Investment Holdings, LLC executed a Ninth Amendment to said lease on November 21, 2023, which lease amendment was approved by RS2023-104; and,
WHEREAS, Metro and Square Investment Holdings, LLC executed a Tenth Amendment to said lease on May 21, 2024, which lease amendment was approved by RS2024-456; and,
WHEREAS, Metro and Square Investment Holdings, LLC executed an Eleventh Amendment to said lease on July 15, 2025, which lease amendment was approved by RS2025-1356; and,
WHEREAS, Metro and Square Investment Holdings, LLC have agreed to a Twelfth Amendment to the Lease Agreement; and,
WHEREAS, it is to the benefit of the citizens of The Metropolitan Government of Nashville and Davidson County that this Twelfth Amendment to the Lease Agreement be approved.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That the Twelfth Amendment to the Lease Agreement between The Metropolitan Government of Nashville and Davidson County and Square Investment Holdings, LLC, a copy of which is attached hereto and incorporated herein, is hereby approved and the Metropolitan Mayor is authorized to execute it on behalf of the Metropolitan Government.
Section 2. This resolution shall take effect from and after its adoption, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.
Agenda Analysis
Analysis
This resolution approves the twelfth amendment to the lease agreement between the Metropolitan Government (“Metro”) and Square Investment Holdings for office space in the Washington Square Building at 222 Second Avenue North.
Metro currently leases a total of 73,711 rentable square feet of the Washington Square Building. Metro began leasing space in this building for Office of the District Attorney General in 1993. A new lease agreement was approved in 2008, per Ordinance No. BL2008-226, to add another 18,000 square feet for the Metropolitan Department of Law (“Metro Legal”). In 2011, Metro amended the lease to hold the Office of the District Attorney displaced after the 2010 flood (Ordinance No. BL2011-842). In 2013, Metro exercised a right to lease an additional 4,508 square feet and to extend the term of the lease through November 30, 2023 (Resolution No. RS2013-921). In 2014, an additional 2,051 square feet was leased for use by Criminal Justice Planning (Resolution No. RS2014-1016). In 2019, Metro leased an additional 1,491 square feet for use by Criminal Justice Planning (Resolution No. RS2019-1678), and an additional 3,854 square feet for use by the Community Oversight Board (Resolution No. RS2019-1863).
In 2020, the lease term for the Department of Law and Office of the District Attorney space was extended through November 30, 2028 (Resolution No. RS2020-337). In 2023, the lease terms for the Criminal Justice Planning space was extended through November 30, 2028 (Resolution No. RS2023-2141), the lease term for the Community Oversight Board was extended through May 31, 2024 (Resolution No. RS2023-2367), and an additional suite of 1,300 square feet, was added to the leased premises with a lease term which extends through November 30, 2028 (Resolution No. RS2023-104). In 2024, Metro extended the term through August 31, 2024, and set a new rental fee for the Community Review Board space (Resolution No. RS2024-456). The Community Review Board no longer rents office space at this location. The most recent amendment extended the lease term for Metro Legal’s space until November 30, 2038, and leased an additional 4,078 square feet to be occupied by Metro Legal (Resolution No. RS2025-1356).
The proposed amendment would lease another 2,487 rentable square feet to be occupied by Metro Nashville Network (“MNN”). Rent for the MNN space would begin at $23.87 per rentable square foot and increase the rent by approximately 3% each year between 2026 and 2028. Rent would increase approximately 13% every five years from 2028 to 2038. This rent increase schedule aligns with prior amendment terms. As part of the agreement, the MNN space would receive new carpet and paint at no additional cost.
Amendments to this lease must be approved by resolution with 21 affirmative votes, per Ordinance No. O97-1039.
Fiscal Note: This amendment adds the MNN Space, suite 230 with 2,487 rentable square feet, from the rent commencement date to November 30, 2026, with a rental rate of $23.87 per rentable square foot. The rental rate will increase each year thereafter through the remaining terms of the lease agreement. The MNN Space will receive, at Square Investment Holdings, LLC expense, an installation of carpet and interior paint.