80 Arts
Affordable Office Space
for Small Arts Organizations

Leasing Prospectus

Landlord:
BAM Local Development Corporation (BAM LDC), its designee, affiliate or subsidiary

Building:
80 Arts, an eight-story brick and masonry office building on the corner of Hanson Place and South Portland Avenue

Use:
The Premises shall be used as administrative offices by nonprofit arts and art services organizations.

Office Sizes:
438 - 3,120 square feet

Rent:
$16 - $18 per square foot per year, depending on unit size 3% annual rent escalations

Term:
To be determined

Utility Costs:
Electric usage will be billed to Tenants on a pro rata basis. Current estimates are $2.50 per square foot.

Condition of Premises:
The space will have finished walls, floors and ceilings. General lighting, heating and cooling will be provided to the Premises. Tenants may install interior partitions (if required) at the Tenant's expense with the Landlord's prior written approval. Furniture, fixtures and equipment are to be provided by the Tenant. Plumbing will not be provided to the Tenant's Premises. However restroom facilities are located on every floor. The building is accessible.

Occupancy Date:
Currently expected to be December 2003

Conditions:
The project has been undertaken with the help of city and state Capital Budget Funds. Tenants must maintain their nonprofit status and will be required to file annual employment reports as a result of the programs under which these funds were made available.

Insurance:
Tenants will be required to maintain worker's compensation insurance naming the BAM LDC as a certificate holder, and comprehensive general liability insurance of at least $2 million naming the BAM LDC as additional insured.