University Medical Center of Southern Nevada
Board of Hospital Trustees
AGENDA ITEM
Petitioner:
Mason Van Houweling, Chief Executive Officer
Recommendation:
title
Approve and authorize the Chief Executive Officer to sign the Lease Agreement with Tonopah Partners, LLC for rentable space at 2100 West Charleston Blvd., APN# 13932804013; or take other action as appropriate. (For possible action)
body
FISCAL IMPACT:
Fund #:
5420.000
Fund Name:
UMC Operating Fund
Fund Center:
30000739000
Funded PGM/Grant:
N/A
Amount:
$7,945,501.92 - Monthly Base Rent/Taxes/Insurance (years 1-15)
Description:
Lease Agreement - 2100 W. Charleston
Additional Comments:
10 year lease term with five annual renewal options Out Clause: Budget Act and Fiscal Fund Out
BACKGROUND:
This request is to approve a new Lease Agreement with Tonopah Partners, LLC (Landlord) to lease approximately 14,658 sq. ft. of a building located on approximately 1.47 acres of land located at the northwest corner of Tonopah Dr. and Charleston Blvd, Las Vegas, Nevada known by its street address of 2100 West Charleston Blvd. and APN# 13932804013.The Lease Term is for ten (10) years effective on the Lease Commencement Date with the option to renew for five (5)-one (1) year periods. UMC has a right of first refusal to purchase should Landlord receive an offer to purchase from a third party. UMC’s Chief Operating Officer has reviewed and recommends approval of this Lease Agreement. This Lease Agreement has been approved as to form by UMC’s Office of General Counsel.This Lease Agreement was reviewed by the Governing Board at their October 30, 2024 meeting and recommended for approval by the Board of Hospital Trustees.