MDP, Buckman, LLC executed a 30-year lease with the county and closed on a $29 million Sterne Agee and Leach, long-term, lease-purchase financing, allowing the company to move forward with construction. The low interest, lease-purchase structure provides a $13.58+/- triple net, fixed rental rate for the lease term. Additionally, at the end of the lease, the county can buy the land and building for $1.00.
MDP assembled five separate lots and re-zoned the eight acre consolidated parcel from R-2 residential and C-8 retail to C-3 office use to allow for the project's construction. Davis Carter Scott is the project's architect. VIKA Inc. prepared the site plan and other civil engineering drawings. Fernandez & Associates is the structural engineer and GHT Limited is the MEP engineer. Walsh Colucci, et. al., Chicago Title, ECS, Ltd. and InsuranceOne provided legal, title, geotechnical and insurance services, respectively. Harvey Cleary Engineers & Builders will construct the building.
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