University of Michigan signs 5-year, $443,000 lease for space above Sava's on State Street

The university plans to use the 4,120 square-foot space —including offices and meeting rooms— to expand its Graham Environmental Sustainability Institute.

The monthly rate for the lease is $7,380.

The lease was signed on May 17, but the institute is waiting for the green light from the city of Ann Arbor before moving in.

U-M leases dozens of properties throughout Ann Arbor, including 125,815 square feet at the KMS Building on South State Street in Ann Arbor.

Also recently the school struck a 26-month lease for a 4,300 square-foot space on North University, which will be used for a Institute of Social Research center. That lease costs nearly $84,000 a year.