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Council approves lease, $4.5 million sublease for Las Vegas Museum of Art Media Lab in Symphony Park
Summary
The Las Vegas City Council on July 2 approved a lease of 15,536 square feet in Symphony Park and a $4.5 million sublease to the Las Vegas Museum of Art for a Media Lab designed to activate the site before the museum opens.
The Las Vegas City Council on July 2 approved a city lease of 15,536 square feet in Symphony Park and authorized a $4,500,000 sublease to the Las Vegas Museum of Art (LVMA) to establish a Media Lab and headquarters space ahead of the museum’s main building opening.
City economic development director Dina Babbski told the council the lease covers the vacant retail space along the Promenade Garage at 355 Promenade Place and carries an initial 10‑year term with two five‑year renewal options. The lease will use a market rate appraised at $70 per square foot; actual rent, Babbski said, will commence when the main museum building is completed.
The Media Lab, presented by LVMA Executive…
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