The opportunity to buy an entire square block within a campus’s boundaries is rare.
But UNMC leaders will do just that with a $2.2 million purchase of 2.83 acres of land owned by Premier Leasing, L.L.C.
The University of Nebraska Board of Regents approved the purchase Friday.
The land, located on the east edge of campus and directly south of the Center for Healthy Living, also consists of an industrial building totaling 61,708 square feet, in which they do plastic injection molding under the name Premier Plastics Inc.
As approved, Premier Leasing will lease the property back from UNMC for a five-year period with options by either party to terminate the lease after three years.
The block falls within UNMC’s campus master plan and encompasses Leavenworth and Jones streets and 39th and 40th streets. UNMC has leased parking space on the property owned by Premier Leasing since 2000.
Acquiring the property allows UNMC to gain one square block of space for future warehouse, auxiliary and office space, said Keith Swarts, director of business services at UNMC. “This would allow us to move auxiliary operations out of the core campus to the edge and dedicate the core to education, research and patient care,” he said. Auxiliary operations that could be relocated include mail services, printing services and other warehouse operations, he said.
“To be able to buy one square block within our campus boundaries is unusual,” Swarts said. “This is a prime spot.”
In other business Friday, the board:
- Approved spending $2.2 million to improve the intersection at 42nd Street and Leavenworth Street to permit north and southbound left turns to give vehicles an easier way around the UNMC campus, as well as modify 42nd Street between Leavenworth and Harney streets from four lanes to three lanes and improving traffic signal coordination. In January, the regents approved an agreement with the City of Omaha for the modification of the public streets.