TO: Mayor and City Council
THROUGH: Krishna Namburi, City Manager
FROM: Allen Dannen, City Engineer
SUBJECT:
title
Lease for Suite 337 in the Chemeketa Parkade Building located at 337 Chemeketa Street NE.
Ward(s): Ward 1
Councilor(s): Tigan
Neighborhood(s): Central Area Neighborhood Development Organization (CANDO)
Result Area(s): Good Governance; Safe and Healthy Community; Strong and Diverse Economy; Welcoming and Livable Community.
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SUMMARY:
summary
City owned leasehold space located at 337 Chemeketa Street NE in the Chemeketa Parkade is currently vacant. Closet Revamp proposes to lease the space on an annual basis with options to renew.
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ISSUE:
Shall City Council authorize the City Manager to execute the attached lease with Closet Revamp at 337 Chemeketa NW?
RECOMMENDATION:
recommendation
Authorize the City Manager to execute the attached lease with Closet Revamp at 337 Chemeketa Street NE.
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FACTS AND FINDINGS:
The Leasehold space at 337 Chemeketa Street NE is approximately 260 square feet and was developed primarily for retail use to support the downtown core. The City has no pressing need to use this space and it was appropriately made available for lease.
The lease to Closet Revamp is for a one (1) year term but provides Closet Revamp three (3) one-year options to extend through June 30, 2030, as needs dictate. The terms of the lease are as follows:
Lease Term: Approximately 1 year, commencing April 20,2026 and running through June 30,2027
Option to Renew: Three (3) one-year Options to renew through June 30, 2030
Rental Rate: Term Monthly Rent Monthly CAM
04/20/2026 - 06/30/2027 $585.00 $52.00
07/01/2027 - 06/30/2028 $614.25 $56.16
07/01/2028 - 06/30/2029 $644.96 $60.65
07/01/29 - 06/30/2030 $677.21 $65.51
Note: CAM is the charge for Common Area Maintenance, utilities, and insurance.
BACKGROUND:
The tenant, Closet Revamp is owned by Katy Ogdahl, a long-time business owner in downtown Salem. Her business for this lease, Closet Revamp, is a consignment retail business focusing on high-end women’s fashion.
Brian Summers
Real Estate Services Manager
Attachments:
1. Chemeketa Parkade Lease