TITLE
Title
FINAL APPROVAL OF LEASE WITH OPTION TO PURCHASE FOR OFFICE SPACE AT 2400 FREEMAN MILL ROAD, GREENSBORO, NC
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SPONSOR
Sponsor
Eric Hilton, General Services Director
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BACKGROUND
Background
Guilford County has identified 2400 Freeman Mill Road as a suitable location to support long-term governmental office and public-service needs. The property consists of an approximately 36,939-square-foot office building and associated site.
At its October 15, 2026, meeting, the Board of Commissioners preliminarily approved, in substantial form, the proposed lease with option to purchase and authorized County staff to submit the agreement and related documentation to the North Carolina Local Government Commission for review and approval.
The proposed agreement provides for an initial five-year lease term with one additional five-year renewal option at a starting base rental rate of $19.00 per square foot. The agreement also includes an option for the County to purchase the property in 2030 under the terms and conditions set forth in the agreement.
The North Carolina Local Government Commission has approved the lease with option to purchase. The agreement is now being presented to the Board of Commissioners for final approval and authorization to execute.
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BUDGET IMPACT
Budget Impact
NO ADDITIONAL COUNTY DOLLARS REQUIRED
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REQUESTED ACTION
Requested Action
Approve the lease with an option to purchase, in substantial form, for 2400 Freeman Mill Road and authorize the County Manager or designee to execute the agreement and any related documents necessary to complete the transaction, including any necessary budget transfers or amendments for information technology or facility up fits to the building, within budgeted funds.
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