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Consent to Assignment of Ground Lease for Change of Ownership From LeHeup Property Management, LLC, to Hiler Buffalo LLC, for Property Located at 16150 Aviation Loop at Brooksville-Tampa Bay Regional Airport
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BRIEF OVERVIEW
In 1984, Hernando County and Lessee KLD Partnership entered into a ground lease for property at 16150 Aviation Loop Drive. KLD Partnership dissolved in 1998 and the ground lease was assigned to Fred J. LeHeup and his wife, Nita L. LeHeup. Upon their passing in 2021, the ground lease was assigned to the Estate of Nita L. LeHeup, then assigned again in 2022 to the present Lessee, LeHeup Property Management, LLC.
LeHeup Property Management, LLC intends to sell its interest in the leasehold improvements to Hiler Buffalo LLC, via its sole equity member Postal Realty, LP and general partner Postal Realty Trust, Inc.
This item went before the BOCC and was approved on April 9, 2024; however, the transaction failed to close on or by sixty (60) days from the date of Consent which therefore requires updated BOCC approval.
FINANCIAL IMPACT
The Airport revenue will not be impacted.
LEGAL NOTE
The Board is authorized to act on this matter pursuant to Chapter 125, Florida Statutes.
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RECOMMENDATION
It is recommended that the Board approve and authorize the Chairperson’s signature on the attached Consent to Assignment of Ground Lease for Change of Ownership from LeHeup Property Management, LLC to Hiler Buffalo LLC.