36C26324L0004 New/Relocating Grand Forks Outstation Lease 5yr Firm, 15yr Soft 9/11/2024-9/10/2044

This serves as notice that the United States Government has accepted an offer to lease 2,389 rentable square feet of space yielding 2,180 ANSI/BOMA office area square feet as a New/Relocating Lease acquisition for a Department of Veterans Affairs, Readjustment Counseling Service Veterans Center (Vet Center) located at 1407 24th Ave S, Grand Forks, ND 58201. The leased premise includes 10 surface parking spaces of which 10 parking spaces are reserved as part of rent consideration.

The lease has been awarded to RISE Companies, LLC in Hawley, MN. Tenant Improvements and FSL II BSAC have been included in the amount of $554,404.03 to be paid lump sum upon buildout completion and acceptance of space. Rent Commencement is planned for May 2025 to be paid at a Fully Serviced annual rent of $55,568.14 (Year 1) with shell rent increases every 5 years and yearly operating rent increases. The lease terms are set at 20 years, 5 years firm. VA may terminate this lease after the firm term with 90 days written notice to the Lessor.