Real Estate Office 451 Donhowe Building 319 - 15th Avenue SE, Minneapolis, MN 55455 Phone: 612-625-5345 Fax: 612-624-6345
[email protected] www.realestate.umn.edu Land O'Lakes Center for Excellence Photo Credit: Landolakes.umn.edu Lease Report Fiscal Year 2017 Real Estate Office 451 Donhowe Building th 319 – 15 Avenue S.E. Minneapolis, MN 55455 Office: 612-625-5345 Fax: 612-624-6345 February 2018 This University of Minnesota Fiscal Year Lease Report documents the University's real estate leasing activity during Fiscal Year 2017 (July 1, 2016 – June 30, 2017). Approximately 4,075 leases and easements involving the University as landlord or tenant, including the PUF leases, were in existence during the fiscal year and are included in this report. During Fiscal Year 2017, the total cost of 376 long-term leases, providing for the University’s use of 772,479 square feet (SF) of building space plus numerous apartments which are not measured, and 2,299 acres of land, air-rights and subsurface rights, plus 425 short-term use agreements, was approximately $20.3 million. This compares to 408 long-term leases and 490 short- term use agreements in existence during Fiscal Year 2016 covering 806,143 SF and 2,657 acres at an approximate total cost of $21 million. The University’s total leased building space in Fiscal Year 2017 was relatively unchanged from the previous year as there were no significant new lease transactions that occurred. However, the Leased space in Minneapolis shows a decrease of approximately 34,000 SF from the previous fiscal year.