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 Bell Museum Photo Credit: bellmuseum.umn.edu Lease Report Fiscal Year 2018 Real Estate Office 451 Donhowe Building th 319 – 15 Avenue S.E. Minneapolis, MN 55455 Office: 612-625-5345 Fax: 612-624-6345 January 2019 This University of Minnesota Fiscal Year Lease Report documents the University's real estate leasing activity during Fiscal Year 2018 (July 1, 2017 – June 30, 2018). Approximately 4,177 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 2018, the total cost of 388 long-term leases, providing for the University’s use of 800,356 square feet (SF) of building space plus numerous apartments which are not measured, and 2,618 acres of land, air-rights and subsurface rights, plus 493 short-term use agreements, was approximately $25.8 million. This compares to 376 long-term leases and 425 short- term use agreements in existence during Fiscal Year 2017 covering 772,479 SF and 2,299 acres at an approximate total cost of $20.3 million. The University’s total leased building space in Fiscal Year 2018 increased by 27,877 SF and the land acreage leased increased by 319 acres. These increases were largely attributable to the relocation of the CFANS Sand Plain Research Farm in Becker, MN which consisted of a lease for 15,000 SF of office/warehouse space for temporary operations while new facilities are being constructed at a new leased parcel of land consisting of 416.5 acres.