University of Michigan signs 5-year, $443,000 lease for space above Sava's on State Street
The University of Michigan has signed a five-year, $443,000 lease for a suite above Sava's restaurant on South State Street in downtown Ann Arbor.
Kellie Woodhouse | AnnArbor.com
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.