Notice of Property Lease
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NOTICE OF PROPERTY LEASE
2325 Smiley Lane, Columbia, Mo.
The University of Missouri executed a lease for 15,000 s.f. at 2325 Smiley Lane, Columbia, Mo., from NJE Properties on May 11, 2006. The lease is for a five-year period with the option to renew for two additional five-year terms. The lease was authorized by the UM Board of Curators at its May 5, 2006 meeting. The initial cost is $15.50 s.f. ($232,500), with C.P.I increases at the beginning of each renewal term, plus additional rent for taxes and insurance. The University will pay $835,000 for construction to prepare the facility for use.
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