Guardian Building narrows losses but occupancy slips; 1st Street parking deck usage falls after Comerica exit
The Guardian Building's net operating loss narrowed to $174,000 in FY2025 while occupancy fell to 86.5%; the 1st Street parking deck lost 109 leased spaces after Comerica Bank stopped leasing, leaving 1,276 of 1,451 spaces in use; auditors recommended continued monthly operating reports to the commission.
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Auditors reported the Guardian Building reduced its net operating loss to $174,000 in FY2025 from $467,000 the prior year while occupancy declined to 86.5% and unpaid rent rose to $170,000. The auditors recommended commission leadership ensure monthly operating reports are complete and forwarded consistently so leadership can monitor revenues, occupancy, and delinquencies.
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