- Last August, the City of Pensacola and Port Warehouse 4, LLC, entered into a lease agreement for the port’s existing Warehouse #4, a 45,000 sq. ft. general cargo storage facility. The redeveloped building will be multi-purpose and include indoor court sports, conference/exhibition space, concerts, and other specific uses per the lease agreement.
What’s in the amendment? The lease grants Port Warehouse 4 access to the area formerly leased by Pensacola Bay Oyster – an additional 13,158 square feet of outdoor property southwest of Warehouse #4.
- Rob Fabbro of Port Warehouse 4 said, “What happened was Pensacola Bay oysters found a permanent home on Garcon Point, which left that little kind of no man’s land space that’s not accessible by ships or by the water open.”
The proposed amendment not only allows Fabbro’s group to relocate the indoor facility’s entrance to the warehouse’s south side but also provides a significant boost to public access to the Commendencia Slip, enhancing the overall experience for the citizens of Pensacola.
More Details: This expansion will allow for the development of several new amenities:
• Outdoor restaurant/dining/seating area: This area will offer patrons
unobstructed views of Commendencia Slip.
• Public sidewalk extension: The existing sidewalk will be extended to the property’s southern edge, creating a pedestrian-friendly connection.
• Landscaping enhancements and improvements: The west side of the leased premises
will receive landscaping upgrades to enhance the overall esthetics.
It’s important to note that Port Warehouse 4 will bear all the costs associated with developing these new amenities, ensuring that the financial burden does not fall on the taxpayers.
Financial Impact: Port Warehouse 4, LLC, with the additional property added, will pay an increased lease rate of $36,000 (the previous lease rate was $26,000 annually). Annual CPI increases are capped at 5%, and reimbursement to the City for the cost of maintaining property insurance on the building remains per the original lease.
