Annual report: University of Michigan's biggest commercial real estate leases
To accommodate its growing health system, the University of Michigan expanded its portfolio of large commercial leases in 2012, according to an annual report released Monday.
U-M — which is already one of the largest renters of private commercial real estate in the Ann Arbor region — has six property leases in its portfolio that exceed 50,000 square feet. The list includes the under-construction offices in Northville for the University of Michigan Health System Northville Health Center.
The university also expanded several of its offices this year, including leasing an additional 18,000 square feet at Domino’s Farms Office Park. U-M now occupies nearly 25 percent of the complex, which is the county’s largest at close to 1 million square feet.
Here are U-M’s six property leases that exceed 50,000 square feet:
1. 240,920 square feet on Frank Lloyd Wright Drive at Domino’s Farms in Ann Arbor Township: University of Michigan Health System departments use the space for various departments, including sports medicine and plastic surgery.
2. 125,815 square feet at the KMS Building on South State Street in Ann Arbor: The space is used for hospital clinical billing and other UMHS groups.
3. 100,000 square feet of under-construction offices in Northville: The space will be leased from REIS-Northville LLC for the UMHS Northville Health Center.
4. 70,754 square feet on East Eisenhower Parkway at the Burlington Office Center in Ann Arbor: The space is used by various departments, including physical medicine and rehabilitation.
5. 63,920 square feet at 2301 Commonwealth Boulevard in Ann Arbor: First Properties Associates leases the space to various UMHS groups.
6. 51,534 square feet on North Canton Center Road in Canton: UMHS Canton Health Center leases the space from Saltz Center.