University Medical Center of Southern Nevada
Board of Hospital Trustees
AGENDA ITEM
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Petitioner: |
Mason Van Houweling, Chief Executive Officer |
Recommendation:
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Approve and authorize the Chief Executive Officer to sign the Sixth Amendment to Interlocal Medical Office Lease with the Board of Regents of the Nevada System of Higher Education on behalf of the University of Nevada, Las Vegas, Kirk Kerkorian School of Medicine for rentable space at the Lied Building located at 1524 Pinto Lane; or take other action as appropriate. (For possible action)
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FISCAL IMPACT:
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Fund #: |
5420.000 |
Fund Name: |
UMC Operating Fund |
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Fund Center: |
3000999900 |
Funded PGM/Grant: |
N/A |
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Amount: |
$29,118.62 monthly base rentmonthly base rent |
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Description: |
Lied Building Lease |
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Additional Comments: |
Out Clause - 180 days without cause |
BACKGROUND:
On September 5, 2017, the Board of Hospital Trustees approved the Interlocal Medical Office Lease between University Medical Center of Southern Nevada (UMC) and the Board of Regents of the Nevada System of Higher Education (NSHE) on behalf of the University of Nevada, Las Vegas, School of Medicine (School) for Lied Building medical office space located at 1524 Pinto Lane (2nd and 3rd Floors) (“Existing Premises”). The term of the lease is from November 1, 2017 to October 31, 2022, with the option to extend for two 1-year periods. The First Amendment, effective June 5, 2018, added an additional 6,101 square feet of rentable medical office space. The Second Amendment, effective July 19, 2019, added an additional 2,475 square feet of rentable space on the first floor of the Lied Building, and increased the monthly base rent by approximately 3% annually. The Third Amendment, effective April 20, 2022, executed the first of two 1-year option periods extending the term of the lease from November 1, 2022 to October 2023. The Fourth Amendment extended the term through October 31, 2024, and the Fifth Amendment reduced the portion of the premises to 12,454 square feet on the third floor and extended the term through July 31, 2025.
This Sixth Amendment requests to extend the term of the Lease for an additional year through July 31, 2026. It includes two additional 6-month renewal options and a 180-day termination for convenience clause.
UMC’s Chief Operating Officer has reviewed and recommends approval of this Amendment. This Amendment has been approved as to form by UMC’s Office of General Counsel.
This Amendment was reviewed by the Governing Board at their July 30, 2025 meeting and recommended for approval by the Board of Hospital Trustees.