STOC Innspace Lease
Blaine Burk
Aviation Real Estate and Portfolio Manager III
Item No. 8d supp
Meeting Date: January 27, 2026
Action Requested
Request Commission authorization for the Executive Director to execute a
term Lease Agreement with Innspace, LLC at SeaTac Office Center (STOC) to
lease 4,193 square feet of office space for a term of 70 months.
2
• Innspace has been a tenant at STOC since
2023. They currently lease 2,617 sf of office
space on a portion of the 4
th
floor
• The Port has tentatively agreed to a new lease
for Innspace to relocate to a 4,193 square feet
suite on the eleventh floor (Suite 1106) for an
initial term of 70 months
• Prior to occupancy, Innspace will invest
approximately $500,000 in tenant
improvements
• The suite Innspace would be vacating, Suite
415, is in highly desirable condition and size,
making it an attractive option for prospective
tenants.
Overview
3
Lease Details
4
Effective Date
Estimated to
be February 1, 2026
Rent Commencement Date
Earlier of Substantial Completion of Tenant Improvements or November 1, 2026
Rental Rate Adjustments
Beginning in month 25 of the lease, the Monthly Base Rent will increase annually
based on the Consumer Price Index (CPI) and will continue to adjust every 12
months thereafter.
Permitted Use
Innspace
, LLC shall use the Premises for general office use.
Security Requirement
6 months’ base rent
Insurance Requirement
General Liability Coverage: $5 million per occurrence
Auto Liability Coverage: $1 million per occurrence
