Information Correction

GERMANTOWN, TN--March 3, 2016--Incorrect information was recently included in a Commercial Appeal article about the Germantown Municipal Schools’ Central Office lease. The proposed rent will increase at only 5.3%, and not nearly 19% as written in the article. Current rent on the property is at $12,056 per month and could rise to $12,700 at the new proposed rate.

This increase was requested by Carrefour Management as the shopping centers pro-rata operational expenses have increased 12% and the utility costs have increase 6% since the inception of our lease.

The Germantown Board of Education has agreed to move forward with the formation of a committee to further discuss the future plans for central office.
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