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Committee approves three Keating Building leases for counseling, barber and service firm
Summary
The Middletown Economic Development Committee approved leases for Horizon Counseling (900 sq ft), Coughlin Service Corporation (≈4,700 sq ft) and Macho de Barber (540 sq ft) in the Keating Building; staff said terms mirror prior Keating leases and recommended approval.
The Economic Development Committee voted unanimously Jan. 14 to approve three lease agreements for newly subdivided space at the Keating Building.
Director Christine Marks told the committee the leases follow the same pricing and boilerplate terms used for other new Keating tenants. Horizon Counseling is proposed to lease 900 square feet, staff said, and the barber operation registered as the legal entity "Macho de Barber" is set to lease about 540 square feet in Building C. Coughlin Service Corporation sought roughly 4,700 square feet on the industrial side of the building to expand woodshop and related operations; staff said the tenant has been a reliable payer and intends to invest in significant build-out work.
Councilors moved and seconded approval for each lease and the committee recorded unanimous aye votes with no abstentions. Staff said rent for the larger industrial space was set at $4.50 per square foot for year one with a 4% escalator in years two through five, and that the leases include standard renewal options and tenant-specific scope details.
Why it matters: The Keating Building is a city-owned, multi-tenant facility in which the committee has been actively managing space by subdividing larger areas to attract local businesses. Approving these leases is intended to fill previously vacant space, generate lease revenue that supports Keating building maintenance, and encourage downtown economic activity.
What’s next: Staff will finalize the signed leases, finance will post rent lines to the Keating fund, and the committee expects continued oversight of tenant improvements and building maintenance.
