Lease Requisitions and Approvals

Administrative Guide 54.3  includes the University Policy for Real Estate Leases.

To provide a coordinated effort in the leasing markets, an Off Campus Lease Requisition form must be completed and submitted to the Vice President for LBRE prior to negotiating lease terms. The Managing Director of the Real Estate department of LBRE or an approved real estate advisor may be directed to assist the requestor.

Prior to the execution of a lease, the Real Estate Lease Approval Form (pdf) must be signed by the Vice President for LBRE. If the total value of contracted lease payments is over $1 million, the Provost will also need to sign the form. If the total value of contracted lease payments is over $5 million, Board of Trustee approval is required.

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