Real Estate Services oversees the administrative management of real estate transactions and various aspects of Virginia Commonwealth University's (VCU) real property portfolio management.

If you have questions, concerns, or need information, we are here to help! For information contact Mitzi M. Lee, (804-828-9177) or leemm3@vcu.edu.

Real Estate Leasing

• All requests for space at VCU must be submitted to Real Estate Services using a Lease Justification Form.
• Lease Justifications require the approval of the program or department's respective senior management; i.e., Department Head and Dean, Provost and Vice President,
• Academic Finance and Administration, before a search for available space to lease can begin.
• Leases can be signed by those duly authorized to execute contracts on behalf of VCU, and some leases require approval of the VCU BOV.

       Generally, leasing is space is considered an interim solution.

Property Acquisitions, Transfers and Sales

• Real Estate Services coordinates all purchases, transfers and sales of real property on behalf of VCU.
• All real property acquisitions, transfers and sales must be approved in advance by the VCU Board of Visitors.

Real Estate Rights-of-Way

• Requests for easements either for VCU's use or for another entity to cross VCU property are coordinated by Real Estate Services.
• Easements must be approved in advance by the VCU Board of Visitors.

Miscellaneous Agreements for the Use of VCU Property

Real Estate Services coordinates agreements for the use of VCU property, whether the agreement is between VCU and external private concerns or internal work units. Real Estate Services is focused on the use of uniform best management practices when it comes to establishing an agreement for use of its real property assets, including standard terms and conditions.

Approximately 606 acres are owned by VCU and include the following:

Real Estate Services provides management and administrative services for real estate leases comprising approximately 1,442,417 square feet serving the Richmond campuses, as well as several remote program locations, both foreign and domestic.

Real Estate Services provides expertise to the University in matters relating to all real estate activities and transactions. More specifically, Real Estate Services work extends to include the following:

• Management of real estate owned, leased or controlled by VCU to ensure buildings are maintained and operate efficiently as may be prescribed by written agreements;
• Purchases of real estate;
• Sales of real estate;
• Leases of real estate;
• Easements and rights-of-way for access and utilities; and
• Agreements for the use of property and facilities; i.e., Memoranda of Agreement/Understanding.

Through its mission, Real Estate Services ensures that the University has adequate space within which to carry out its mission of teaching, research and public service, while providing for future growth and expansion of the University. Our staff of professionals is prepared to assist with real estate needs. Please let us know how we can help make your job easier and meet your space needs. Your comments and phone calls are welcome:

828-9177 or leemm3@vcu.edu

- Mitzi M. Lee (Manager, Real Estate Services)