Sixteenth Amendment to a Lease Agreement between Dominos Farms Office Park, L.L.C. and Dominos Pizza LLC, dated as of July 21, 2021

Contract Categories: Real Estate - Lease Agreements
EX-10.14 3 dpz-ex10_14.htm EX-10.14 EX-10.14

Exhibit 10.14

AMENDMENT #16 TO A LEASE AGREEMENT BETWEEN DOMINO'S FARMS OFFICE PARK LLC (LANDLORD) AND DOMINO'S PIZZA LLC (TENANT)

 

 

THIS AMENDMENT #16 TO A LEASE AGREEMENT is made on July 21, 2021 by and between DOMINO'S FARMS OFFICE PARK LLC, a Michigan Limited Liability Company, f/k/a Domino's Farms Office Park Limited Partnership (Landlord) and DOMINO'S PIZZA LLC (Tenant).

 

WHEREAS, Landlord entered into a Lease Agreement (the Lease) for a portion of the office building known as Domino's Farms Prairie House located at 30 Frank Lloyd Wright Drive, Ann Arbor, Michigan 48106 with Domino's Pizza, Inc., whose successor in interest is Domino's Pizza LLC (Tenant), for a term of five (5) years commencing as of December 21, 1998; and

 

WHEREAS, via a First Amendment to Lease dated August 8, 2002, Landlord and Tenant extended the term of the Lease Agreement, included additional space as a part of the Premises, and incorporated additional provisions; and

 

WHEREAS, via a Second Amendment to Lease dated May 5, 2004, Landlord and Tenant amended the Lease by replacing Section B (Premises) of the First Amended Standard Lease Summary; and

 

WHEREAS, via a Third Amendment to Lease dated November 18, 2009, Landlord and Tenant amended the Lease to clarify actual size of the warehouse and to add an additional 4,790 usable square feet of space, and

 

WHEREAS, via a Fourth Amendment to Lease dated April, 2010, Landlord and Tenant amended the Lease for the temporary lease of additional space, and

 

WHEREAS, via a further amendment mistakenly captioned as the "Fourth Amendment to Lease" dated August 28, 2012, Landlord and Tenant amended the Lease to expand the primary Premises and extend the Term of the Lease, and

 

WHEREAS, via a Fifth Amendment to Lease dated February 2015, Landlord and Tenant amended the Lease for the temporary lease of additional space, and

 

WHEREAS, via a Sixth Amendment to Lease, Landlord and Tenant amended the Lease in February 2015 to expand the primary Premises, and

 

WHEREAS, via a Seventh Amendment to Lease dated April 2016, Tenant absorbed an additional 6,448 rentable square feet (5,607 usable square feet) located at Lobby H on Level 3, and

 

 

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WHEREAS, via an Eighth Amendment to Lease dated November 4, 2016 Tenant absorbed an additional 15,700 rentable square feet (13,652 usable square feet) located at Lobby D on Level 3, and

 

WHEREAS, via a Ninth Amendment to Lease dated February 16, 2017, Tenant absorbed an additional 9,343 rentable square feet (8,124 usable square feet) located at Lobby K on Level 1, and

 

WHEREAS, via a Tenth Amendment to Lease dated October 2017, Tenant expanded to the south of Premises on the third level into the space formerly occupied by IBM equal to 8,188 rentable square feet (7,120 usable square feet), and

 

WHEREAS, via Amendment #11 to Lease dated July 17, 2018, Tenant extended the Term for the Lease to be concurrent with Amendment #12, and

 

WHEREAS, via Amendment #12 dated July 17, 2018, Tenant desired to lease additional space, and Landlord agreed to construct a building called "the Innovation Garage" and leased same to Tenant for a period of 10 years, and

 

WHEREAS, via Amendment #13 dated May 14, 2019, Tenant has agreed to lease additional space in the Prairie House on a temporary basis to be used for an IT workroom, and

 

WHEREAS, via Amendment #14 dated May 31, 2019, Tenant modified the term of one leased suite and return three (3) additional suites back to the Landlord, and

 

WHEREAS, via Amendment #15 dated May 20, 2020, Tenant extended the lease of space located near the North Dock on Level 1 at Lobby L on a month-to­ month basis, and

 

WHEREAS, Tenant will relinquish a portion of the total leased Premises back to the Landlord,

 

NOW, THEREFORE, Landlord and Tenant agree to the following:

 

A portion of the leased Premises located on Level 3 at Lobby B shall be returned by the Tenant back to the Landlord. (Reference attachment.) Said space is 2,048 rentable square feet, equal to 1,781 usable square feet with a 15% Common Area Factor.

 

The preliminary construction costs associated with the return of this space are estimated to be $69,336.00. (Reference attachment.) Landlord will manage the construction project, and will not charge a management fee for said oversight. The actual cost of the work shall be invoiced to the Tenant upon project completion, and shall be paid in a lump sum with thirty (30) days of receipt of said invoice.

 

 

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The planned construction includes a new demising wall, and a new entrance to the returned space. The work should be completed on or about September 1, 2021. Upon completion of the construction and receipt of a Certificate of Occupancy from the Ann Arbor Township Building Inspector, the total monthly rent for the Premises shall be reduced by $5,312.85. The rent reduction shall be pro-rated for a partial month if necessary.

 

 

SURVIVAL OF LEASE

 

Except as set forth in this Amendment #16 to Lease Agreement, all other terms and conditions of the Lease shall remain the same and unchanged in full force and effect.

 

 

IN WITNESS WHEREOF, the parties have hereunto executed this AMENDMENT #16 TO LEASE AGREEMENT as of the day and year first above written.

 

 

 

TENANT: LANDLORD:

DOMINO'S PIZZA LLC DOMINO'S FARMS OFFICE PARK LLC

(a Michigan limited liability company) (a Michigan limited liability company

 

 

By: /s/ Richard E. Allison, Jr. /s/ Paul R. Roney

 

Its: Chief Executive Officer Its: Manager

 

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