[arrl-odv:31811] Requested warehouse lease information
Dear ODV, Mr. Norton requested lease information related to the Warehouse during the recent board meeting. Our current monthly lease payment is $4,264.60/$51,175.20 annually. We also pay approximately an additional $7,000 in property taxes and $2,000 in operational expenses (i.e. water and sewer) to the landlord. ARRL is only one of the tenants at this property and therefore we are only charged part of these additional expenses. 73, Diane Middleton, W2DLM Chief Financial Officer ARRL, the national association for Amateur Radio (r) 225 Main Street Newington, CT 06111 (860) 594-0225
Do you know the square footage of that building? Or I guess our portion of the building. Thanks Mark, HDX On Wed, Jan 20, 2021 at 3:36 AM Middleton, Diane, W2DLM (CFO) < dmiddleton@arrl.org> wrote:
Dear ODV,
Mr. Norton requested lease information related to the Warehouse during the recent board meeting. Our current monthly lease payment is $4,264.60/$51,175.20 annually. We also pay approximately an additional $7,000 in property taxes and $2,000 in operational expenses (i.e. water and sewer) to the landlord. ARRL is only one of the tenants at this property and therefore we are only charged part of these additional expenses.
73,
Diane Middleton, W2DLM
Chief Financial Officer
ARRL, the national association for Amateur Radio ®
225 Main Street
Newington, CT 06111
(860) 594-0225
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Mark, ARRL occupies approximately 9,000 square feet. Diane From: Mark J Tharp <kb7hdx@gmail.com> Sent: Wednesday, January 20, 2021 9:23 AM To: Middleton, Diane, W2DLM (CFO) <dmiddleton@arrl.org> Cc: arrl-odv <arrl-odv@arrl.org> Subject: Re: [arrl-odv:31811] Requested warehouse lease information Do you know the square footage of that building? Or I guess our portion of the building. Thanks Mark, HDX On Wed, Jan 20, 2021 at 3:36 AM Middleton, Diane, W2DLM (CFO) <dmiddleton@arrl.org<mailto:dmiddleton@arrl.org>> wrote: Dear ODV, Mr. Norton requested lease information related to the Warehouse during the recent board meeting. Our current monthly lease payment is $4,264.60/$51,175.20 annually. We also pay approximately an additional $7,000 in property taxes and $2,000 in operational expenses (i.e. water and sewer) to the landlord. ARRL is only one of the tenants at this property and therefore we are only charged part of these additional expenses. 73, Diane Middleton, W2DLM Chief Financial Officer ARRL, the national association for Amateur Radio ® 225 Main Street Newington, CT 06111 (860) 594-0225 _______________________________________________ arrl-odv mailing list arrl-odv@reflector.arrl.org<mailto:arrl-odv@reflector.arrl.org> https://reflector.arrl.org/mailman/listinfo/arrl-odv
That’s super cheap by California standards. It’s a bit over $0.50/sqft/mo.
On Jan 20, 2021, at 6:24 AM, Middleton, Diane, W2DLM (CFO) <dmiddleton@arrl.org> wrote:
Mark, ARRL occupies approximately 9,000 square feet. Diane
From: Mark J Tharp <kb7hdx@gmail.com> Sent: Wednesday, January 20, 2021 9:23 AM To: Middleton, Diane, W2DLM (CFO) <dmiddleton@arrl.org> Cc: arrl-odv <arrl-odv@arrl.org> Subject: Re: [arrl-odv:31811] Requested warehouse lease information
Do you know the square footage of that building? Or I guess our portion of the building. Thanks
Mark, HDX
On Wed, Jan 20, 2021 at 3:36 AM Middleton, Diane, W2DLM (CFO) <dmiddleton@arrl.org <mailto:dmiddleton@arrl.org>> wrote: Dear ODV,
Mr. Norton requested lease information related to the Warehouse during the recent board meeting. Our current monthly lease payment is $4,264.60/$51,175.20 annually. We also pay approximately an additional $7,000 in property taxes and $2,000 in operational expenses (i.e. water and sewer) to the landlord. ARRL is only one of the tenants at this property and therefore we are only charged part of these additional expenses.
73,
Diane Middleton, W2DLM Chief Financial Officer ARRL, the national association for Amateur Radio ® 225 Main Street Newington, CT 06111 (860) 594-0225
_______________________________________________ arrl-odv mailing list arrl-odv@reflector.arrl.org <mailto:arrl-odv@reflector.arrl.org> https://reflector.arrl.org/mailman/listinfo/arrl-odv <https://reflector.arrl.org/mailman/listinfo/arrl-odv>_______________________________________________ arrl-odv mailing list arrl-odv@reflector.arrl.org https://reflector.arrl.org/mailman/listinfo/arrl-odv
-Kristen (K6WX) "Your eyes ... it's a day's work just looking into them" Laurie Anderson (--... ...-- -.. . -.- -.... .-- -..-)
Honestly, anything is super cheap by California (or NYC metro area) standards :) Ria N2RJ On Wed, Jan 20, 2021 at 4:00 PM Kristen McIntyre <kristen@alum.mit.edu> wrote:
That’s super cheap by California standards. It’s a bit over $0.50/sqft/mo.
On Jan 20, 2021, at 6:24 AM, Middleton, Diane, W2DLM (CFO) < dmiddleton@arrl.org> wrote:
Mark, ARRL occupies approximately 9,000 square feet. Diane
*From:* Mark J Tharp <kb7hdx@gmail.com> *Sent:* Wednesday, January 20, 2021 9:23 AM *To:* Middleton, Diane, W2DLM (CFO) <dmiddleton@arrl.org> *Cc:* arrl-odv <arrl-odv@arrl.org> *Subject:* Re: [arrl-odv:31811] Requested warehouse lease information
Do you know the square footage of that building? Or I guess our portion of the building. Thanks
Mark, HDX
On Wed, Jan 20, 2021 at 3:36 AM Middleton, Diane, W2DLM (CFO) < dmiddleton@arrl.org> wrote:
Dear ODV,
Mr. Norton requested lease information related to the Warehouse during the recent board meeting. Our current monthly lease payment is $4,264.60/$51,175.20 annually. We also pay approximately an additional $7,000 in property taxes and $2,000 in operational expenses (i.e. water and sewer) to the landlord. ARRL is only one of the tenants at this property and therefore we are only charged part of these additional expenses.
73,
Diane Middleton, W2DLM Chief Financial Officer ARRL, the national association for Amateur Radio ® 225 Main Street <https://www.google.com/maps/search/225+Main+Street+Newington,+CT+06111?entry=gmail&source=g> Newington, CT <https://www.google.com/maps/search/225+Main+Street+Newington,+CT+06111?entry=gmail&source=g> 06111 <https://www.google.com/maps/search/225+Main+Street+Newington,+CT+06111?entry=gmail&source=g> (860) 594-0225
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_______________________________________________ arrl-odv mailing list arrl-odv@reflector.arrl.org https://reflector.arrl.org/mailman/listinfo/arrl-odv
-Kristen (K6WX)
"Your eyes ... it's a day's work just looking into them" Laurie Anderson
(--... ...-- -.. . -.- -.... .-- -..-)
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A few comments follow. $3.50 per square foot for industrial space even in San Jose would be an extremely high price. That may be applicable to office or commercial space but there is industrial space advertised there for rates in the $1.00 per square foot range. There isn't enough information to determine whether the League is paying a cheap price. Many factors such as - are external parking spaces provided, who plows snow, is there a loading dock, who pays for insurance, is there some office space, who performs minor maintenance -impact the rate. Also, consider that the League is a very desirable tenant, both from expected wear on the facility and ability to pay. I suspect the League is paying reasonable rent My observation is that the League brought the landlord a nice building, and he is making additional decent money continuing to rent it to us. That is OK since both the League and landlord agreed to it That is not the issue here. The question is, at this time, does it make sense to continue to rent the warehouse or do something else? First, does the League need an external facility? There was a time when there was no external facility, and the operations were carried on in the main building. I hope management will investigate this and include consideration of it in their recommendation. Another point is the League has considerable cash, and a small amount of it might be invested in a building. I'm pretty sure that the League would be better off today if a building had been purchased at the inception of renting. Would we expect that the League will be better off the future? I look forward to hearing more from management. 73, Dick, N6AA Sent from Yahoo Mail on Android On Wed, Jan 20, 2021 at 1:00 PM, Kristen McIntyre<kristen@alum.mit.edu> wrote: _______________________________________________ arrl-odv mailing list arrl-odv@reflector.arrl.org https://reflector.arrl.org/mailman/listinfo/arrl-odv
There is no need to suspect or guess at anything. We have undertaken to study this issue and report the findings, as we committed at the board meeting. We expect to have a report prepared by the first week of March. I would anticipate that this is something that the Investment Committee would undertake and report back to A&F on as it is, ultimately, an investment decision. It will include details like why going to an outside warehouse in 1994 was required. If there are other data points you’d like covered, please let me know. David From: arrl-odv <arrl-odv-bounces@reflector.arrl.org> On Behalf Of Richard Norton via arrl-odv Sent: Thursday, January 21, 2021 1:52 PM To: McIntyre, Kristen, K6WX (Dir, PD) <kristen@alum.mit.edu>; McIntyre, Kristen, K6WX (Dir, PD) <kristen@alum.mit.edu>; Middleton, Diane, W2DLM (CFO) <dmiddleton@arrl.org> Cc: arrl-odv <arrl-odv@arrl.org> Subject: [arrl-odv:31827] Re: Requested warehouse lease information A few comments follow. $3.50 per square foot for industrial space even in San Jose would be an extremely high price. That may be applicable to office or commercial space but there is industrial space advertised there for rates in the $1.00 per square foot range. There isn't enough information to determine whether the League is paying a cheap price. Many factors such as - are external parking spaces provided, who plows snow, is there a loading dock, who pays for insurance, is there some office space, who performs minor maintenance -impact the rate. Also, consider that the League is a very desirable tenant, both from expected wear on the facility and ability to pay. I suspect the League is paying reasonable rent My observation is that the League brought the landlord a nice building, and he is making additional decent money continuing to rent it to us. That is OK since both the League and landlord agreed to it That is not the issue here. The question is, at this time, does it make sense to continue to rent the warehouse or do something else? First, does the League need an external facility? There was a time when there was no external facility, and the operations were carried on in the main building. I hope management will investigate this and include consideration of it in their recommendation. Another point is the League has considerable cash, and a small amount of it might be invested in a building. I'm pretty sure that the League would be better off today if a building had been purchased at the inception of renting. Would we expect that the League will be better off the future? I look forward to hearing more from management. 73, Dick, N6AA Sent from Yahoo Mail on Android<https://go.onelink.me/107872968?pid=InProduct&c=Global_Internal_YGrowth_AndroidEmailSig__AndroidUsers&af_wl=ym&af_sub1=Internal&af_sub2=Global_YGrowth&af_sub3=EmailSignature> On Wed, Jan 20, 2021 at 1:00 PM, Kristen McIntyre <kristen@alum.mit.edu<mailto:kristen@alum.mit.edu>> wrote: _______________________________________________ arrl-odv mailing list arrl-odv@reflector.arrl.org<mailto:arrl-odv@reflector.arrl.org> https://reflector.arrl.org/mailman/listinfo/arrl-odv
participants (6)
-
Kristen McIntyre -
Mark J Tharp -
Middleton, Diane, W2DLM (CFO) -
Minster, David NA2AA (CEO) -
Richard Norton -
rjairam＠gmail.com