UVA can pretty much build what it wants, where it wants in Charlottesville. Even so, sometimes UVA has to slum it (like the rest of us) and rent.
UVA rents a total of 247,600 square feet locally (for comparison, that’s about three times bigger than the huge Downtown building on Seventh Street now occupied by SNL Financial).
Renting to UVA is a good deal, says landlord Lane Bonner, who leases 1 Morton Dr. to UVA’s vice president for research, as well as Colony Plaza on Fontaine Avenue, which is used by the University as medical offices. With a $3.4 billion-dollar endowment, UVA never needs to throw a keg party to scrounge up the rent.
“They’re not too demanding,” says Bonner. “Some tenants just demand the world, acting like rock ‘n’ roll stars. Some of the tenants from UVA are coming from [buildings with] an institutional feel, so renting space outside the University is an upgrade for them. They appreciate it, which is always nice for a landlord.”—John Borgmeyer
UVA rents a total of 247,600 square feet locally (for comparison, that’s about three times bigger than the huge Downtown building on Seventh Street now occupied by SNL Financial).
Renting to UVA is a good deal, says landlord Lane Bonner, who leases 1 Morton Dr. to UVA’s vice president for research, as well as Colony Plaza on Fontaine Avenue, which is used by the University as medical offices. With a $3.4 billion-dollar endowment, UVA never needs to throw a keg party to scrounge up the rent.
“They’re not too demanding,” says Bonner. “Some tenants just demand the world, acting like rock ‘n’ roll stars. Some of the tenants from UVA are coming from [buildings with] an institutional feel, so renting space outside the University is an upgrade for them. They appreciate it, which is always nice for a landlord.”—John Borgmeyer
