Capital Assets and Real Estate

Contact Keith Hayes, Director, Office of Space Management, by email
at kmhayes@vcu.edu.

Contact Karl Saimre, Director of Real Estate at saimrek@vcu.edu.

Capital Assets & Real Estate (CARE) works to be proactive with lease terminations to contact the individual program using the leased space 3 to 12 months in advance of the lease termination to discuss the user’s operation and if the space continues to meet their needs. From there, CARE will review and discuss any renewal options that may be available in the existing lease or other viable alternatives that can be negotiated with the current landlord to meet the program’s needs. If a program believes it needs to relocate from an existing lease space, it should contact CARE immediately to review the alternatives for finding a new space and exiting the existing space.

If your program is expanding and there is a need for additional lease space, the first step is to complete the online space request form and return it to Karl Saimre, Director of Real Estate at saimrek@vcu.edu. CARE can then determine if additional space is available in the existing location and discuss with the program any alternative solutions.

Please complete the online space request form and return it to Karl Saimre, Director of Real Estate, at saimrek@vcu.edu. CARE will work with you to identify alternate locations, explain the relocation process, and discuss expense responsibilities for typical relocations.

If the program would like to terminate the lease obligation at any time other than the lease expiration date provided in the lease, the program must contact CARE immediately. Leases are legally binding agreements, and any early termination of a lease must be negotiated with the landlord, where any expenses associated with an early termination will be the Program’s responsibility. Simply vacating the space does not terminate the lease or the obligations, including the payment of the rent under the lease. Upon contacting CARE, the lease terms will be reviewed along with the circumstances surrounding the program’s need to terminate early. CARE will review the alternatives that may be available; however, it may not be possible to terminate the financial obligations of the lease until the specified termination date of the lease.

No, all lease negotiations must be conducted by CARE. Authority to execute real estate agreements is provided to the Senior Vice President for Finance and Administration and Chief Financial Officer. There is no delegation of authority for real estate leasing or any other real estate transaction. No threshold limits apply, meaning even zero-dollar leases or license agreements can only be signed by the Senior Vice President for Finance and Administration and Chief Financial Officer or the Associate Vice President for Campus Enterprises and Chief Real Estate Officer. There are no circumstances under which CARE would delegate lease negotiations or signature authority. All real estate transactions must be negotiated by the Senior Vice President for Finance and Administration and Chief Financial Officer.

CARE makes all rental payments on behalf of the programs, utilizing the program's specified Banner index number. Notify the Capital Assets and Real Estate team at RealEstateQA@vcu.edu if you require a new or changed Banner index number for a current lease.

Contact CARE if you have a question or concern about a rental charge that appears on a financial report. Notify the Capital Assets and Real Estate team at RealEstateQA@vcu.edu.

Yes. All construction-related modifications to a leased space, such as moving walls, modifying electrical, plumbing, or ventilation, painting, or re-carpeting, etc., must have the prior approval of both CARE and the Landlord. Under no circumstances should the VCU occupant of the space pay a contractor directly for construction work in the leased space or perform construction-related work themselves without the approval of CARE and the Landlord. Reconfiguring furniture, moving telecommunications, hanging pictures or projector screens, and other similar changes do not require CARE and Landlord approval. If in doubt about how to proceed, contact CARE.

VCU considers property acquisitions consistent with the ONE VCU Master Plan.

Contact Karl Saimre, Director of Real Estate, by calling (757) 206-3455 or by email saimrek@vcu.edu.

Timing depends on the circumstances of the property, funding, and use.

CARE physically inspects each building periodically to identify potential structural problems and evaluate the condition of all mechanical systems and other building components. These inspections help identify potential problems, which are then prioritized based on urgency.

Contact Larry Medina, Director of Administrative Services for Campus Enterprises, by calling (804) 827-2823 or by email medinal@vcu.edu.

Contractors interested in working with the VCU Real Estate Foundation must be licensed and provide proof of insurance. Please direct all inquiries to Larry Medina, Director of Administrative Services for Campus Enterprises, at (804) 827-2823 or by email medinal@vcu.edu.

Contact the Facilities Campus Coordinators at (804) 828-7248 or (804) 828-1903, or email them at jamesca@vcu.edu or rncarter@vcu.edu.