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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 subsequently assigned to Fred J. LeHeup and his wife, Nita L. LeHeup. Mr. and Mrs. LeHeup have since died which resulted in the ground lease being assigned to the Estate of Nita L. LeHeup in 2021, then assigned again in 2022 to the present Lessee LeHeup Property Management, LLC.
LeHeup Property Management, LLC is now selling 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. Hernando County must consent to the assignment of the ground lease.
FINANCIAL IMPACT
The Airport’s 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.