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Putnam County approves lease extensions for two Victoria Marine warehouses
Summary
The board approved extension requests from tenant Victoria Marine for Warehouse 1 and Warehouse 2, keeping Warehouse 1 at $5,000 monthly and granting a two-year extension on Warehouse 2 with scheduled 5% rent increases on renewal dates.
Putnam County commissioners voted April 14 to approve lease extensions for two warehouses leased by Victoria Marine.
Staff (Mister Sullivan) told the board that Warehouse 1 has one year remaining and the tenant requested a one-year extension at the current rate of $5,000 a month. Commissioners moved to approve that extension; the motion carried on a voice vote.
For Warehouse 2 the tenant requested a two-year extension through Sept. 30, 2028, with a 5% rent increase effective Oct. 1, 2026 (to $5,250) and a further 5% increase the following year (to $5,512.50). Commissioners discussed insurance verification and insisted the county be named as an additional insured on tenant policies. Staff pledged to verify insurance coverage and follow up on annual documentation. The Warehouse 2 extension was approved by voice vote.
Next steps: staff to verify insurance documentation (additional insured status) each year and file updated certificates for both leases.
