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LSU property committee approves short-term lease at Bon Carre9 to relocate Health Care Services Division from former Kmart site
Summary
The Property and Facilities Committee approved relocating LSUHealthcare Services Division from a deteriorating former Kmart on Airline Highway to about 18,000—20,000 square feet at the Bon Carre9 business center under a short-term lease priced at roughly $21 per square foot per year, the committee was told.
Patrick Martin, assistant vice president for real estate, public partnerships and compliance, told the Property and Facilities Committee that LSU Healthcare Services Division (HCSD) no longer needs the large former Kmart building on Airline Highway and that the division plans to lease approximately 18,000 to 20,000 square feet at the Bon Carre9 business center instead.
Martin presented the proposal as a short-term, three-year lease at approximately $21 per square foot per year, all inclusive of custodial and utilities; when asked for clarification, he confirmed the $21 figure was annual. The presenter estimated the new lease would translate to roughly $450,000 in rent per year and said moving would reduce ongoing maintenance costs for the aging Kmart property. Martin said the university will work with the LSU Real Estate and Facilities Foundation to determine next steps for the old building once HCSD vacates it.
A trustee asked whether the $21 rate was "per month or year" and Martin replied that the amount is per year and that the three-year term gives the university flexibility as HCSD staffing needs continue to change. Supervisor Avilandia (as recorded in the transcript) moved the item; the committee approved the motion by voice vote with no recorded objections.
Committee members approved the motion and adjourned without additional conditions recorded in the public transcript.
