Legislation Details

File #: 26-0272D    Version: 1
Type: Delegated Item Status: Final
File created: 4/6/2026 Department: Economic Development Authority
On agenda: 6/16/2026 Final action: 5/4/2026
Title: 29th Amendment to Lease Agreement with Raytheon Company to expand their leased premises at the STAR Center.
Attachments: 1. Amendment 29, 2. Lease Agreement, 3. Location Map, 4. Cover Sheet, 5. OMB.REVIEW_26-0272D_PCED_Raytheon Lease Amendment-24Apr2026
Related files: 26-0328A, 22-0470D, 19-523D, 19-1172D, 20-1407D
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
No records to display.

Subject:

Title

29th Amendment to Lease Agreement with Raytheon Company to expand their leased premises at the STAR Center.

label

         

Recommended Action:

Recommended Action

Approval and execution by the County Administrator of a 29th Amendment to Lease Agreement with Raytheon Company to expand their leased premises at the STAR Center by 9,534 square feet.

 

•                     The Pinellas County Economic Development Authority owns and operates the Young-Rainey Science Technology Research Center (STAR Center), located at 7887 Bryan Dairy Road, Largo.

•                     Raytheon has been an anchor tenant at the STAR Center since 1998.

•                     Raytheon desires to lease additional space (9,534 square feet), increasing their total leased space from 463,849 SF to 473,383 SF. Raytheon has increased their leased space multiple times in the past, under prior lease amendments.

•                     Rent for the additional space will commence October 1, 2026.

•                     Revenue from this additional rent is included in the Fiscal Year 2027 (FY27) budget request within the STAR Center Fund.

Body

 

Strategic Plan:

Prosperity and Opportunity
3.3 Increase workforce opportunities.
3.5 Foster business growth.

Smart Service Delivery
4.2 Achieve and maintain a high level of customer satisfaction.

 

Summary:

The 29th Amendment expands Raytheon’s leased space at the STAR Center by 9,534 square feet.

 

Background/Explanation:

The STAR Center is home to Raytheon’s Center of Excellence for its Network Centric Systems Division. Raytheon manufactures radios, terminals, vehicle integration, cables and harness programs to support several Department of Defense contracts. 

 

Fiscal Impact:

Current Annual Rent                                                                $3,807,721.15

New Annual Rent 10/01/26                                           $3,957,214.27

Annual Rent Increase 10/01/26                                          $ 149,493.12

 

Current rent is included in the FY26 Budget.

Revenue from this additional rent is included in the FY27 budget request within the STAR Center Fund.

 

Delegated Authority:

Authority for the County Administrator to sign the 29th Amendment is granted under Code Section 2-62(a)(2).

 

Staff Member Responsible:

Greg Concannon, Division Director, Economic Development

 

Partners:

STAR Center, Economic Development

 

Attachments:

Amendment 29
Lease Agreement
Location Map