Leasing FAQs
If you have an upcoming need for additional space, whether off-campus or on-campus, please contact Facilities as early as possible. Generally, the leasing of space by the university is considered an interim solution to space problems and is intended to continue only if appropriate university-owned space is not available. No request for off-campus space will be considered until a request for space has been made through the Office of University Planning.
The Office of Real Estate Management (REM) will contact your representative to review the request and further discuss any specific requirements that your department may have. Once the need is understood, REM will work to identify a range of properties to meet the needs of your department. REM will work with your department to evaluate the options and negotiate to procure the space.
Once the signed space request is in place, it will take a month working with your representative to identify suitable locations. Depending upon the size of the space needed, a Request For Proposals (RFP) may be required. The RFP process takes an additional six to eight weeks to issue and provide time for the landlords to appropriately respond. Once the best offer has been identified, it will take another month or two to finalize the lease terms, and obtain internal approvals from Risk Management, University Legal Counsel, and other university departments. Generally, a minimum of four months should be allowed for standard space needs, although a requirement for fiber optic cable, specific renovations/alterations, etc. may impact the timeline.
The university is required to use a competitive lease process. This process helps to ensure competitive pricing and provides the market place an opportunity to earn business from the university. The Office of Real Estate Management is the authorized point of contact for owners and agents and represents university programs in acquiring leased space.
Yes, please contact the Office of Real Estate Management office at 540-231-8430.
The university is an educational institution of the Commonwealth of Virginia and is subject to the Code of Virginia and other policies and procedures enacted by state government. With that being said, responsibility for leasing rests with the university. This authority is taken very seriously and it is incumbent upon the institution to ensure that business practices are thorough, competitive, and in full compliance with applicable regulations and laws.
Additional items that need to be considered when choosing leased space include:
Length of the lease; 3 years, 5 years
The availability of fiber optic connectivity to the building
Cost of internal space build-out
Parking requirements
Cost of furniture
Relocation or moving costs
Most leases have a “notification” period that requires the tenant to notify the landlord of their intention to 1) extend or renew the lease or 2) to terminate the lease and move out. The lease document should have a section that addresses renewal terms and options as well as specifying the notification period. If your lease is scheduled to terminate, or the renewal periods have been exhausted, the Office of Real Estate Management (REM) will work with the landlord to negotiate a lease extension or new lease. Please call REM to confirm your lease terms and tell us about your current space needs.
For any modifications or renovations needed to a leased space, the Office of Real Estate Management should be your first point of contact and will guide you through the process depending on the unique circumstances of your situation.
Please contact the Office of Real Estate Management regarding potential properties for sale or lease and provide the following information:
Property address
Description of the property
Current zoning
Lease rates and/or sales price
Owner’s name and contact information
Representatives name and contact information