University of Michigan signs 5-year, $443,000 lease for space above Sava's on State Street
The University of Michigan has signed a five-year, $443,000 lease for a suite above Sava's restaurant on South State Street in downtown Ann Arbor.
The University of Michigan recently signed a five-year lease for space on South State Street.
Kellie Woodhouse | AnnArbor.com
The monthly rate for the lease is $7,380.
The lease was signed on May 17, but the institute is waiting for the green light from the city of Ann Arbor before moving in.
U-M leases dozens of properties throughout Ann Arbor, including 125,815 square feet at the KMS Building on South State Street in Ann Arbor.
Also recently the school struck a 26-month lease for a 4,300 square-foot space on North University, which will be used for a Institute of Social Research center. That lease costs nearly $84,000 a year.
Kellie Woodhouse covers higher education for AnnArbor.com. Reach her at kelliewoodhouse@annarbor.com or 734-623-4602 and follow her on twitter.
Comments
Steve Hendel
Sat, Jul 28, 2012 : 3:10 p.m.
Isn't there mucho plenty empty space, including office space, at the old Pfizer buildings for which WE paid $100,000,000?
Honest Abe
Fri, Jul 27, 2012 : 11:50 p.m.
Ann Arbor real estate is BEYOND over rated.
Jay Thomas
Fri, Jul 27, 2012 : 8:57 p.m.
More buildings and leases = more sustainability. Just to be clear.
Sparty
Fri, Jul 27, 2012 : 7:43 p.m.
Paying rent .... that rent is income to the owner who pays taxes on it, just like any other business transaction. What will the UM haters have to complain about on this issue ?
Steve Hendel
Sat, Jul 28, 2012 : 3:14 p.m.
I am not a UM hater,but-isn't there plenty of empty office space in the old Pfizer buildings?
NCTerry
Fri, Jul 27, 2012 : 8:07 p.m.
Thank you!