LITTLE ROCK -- The University of Arkansas for Medical Sciences will establish clinic sites in west Little Rock for urology, outpatient surgeries and other specialties after University of Arkansas trustees on Thursday approved a facilities lease deal.
UAMS received approval to enter into a 20-year lease for about 32,000 square feet of clinic space at 10915 N. Rodney Parham Road. The lessor was not named in the board meeting Thursday.
Leslie Taylor, a UAMS spokeswoman, in an email said that design work and construction will take place.
"We hope to be able to move into that space within 10-12 months," Taylor said in an email Thursday.
The approximately 32,000 square feet of clinic space will cost $32 per square foot, with a 1% escalation each year, according to board documents. Additional costs to UAMS include a share of operational expenses estimated to be $3 per square foot, as well as the cost of construction improvements.
"There's a $4 million allowance for tenant improvements," Christina Clark, UAMS chief operating officer and vice chancellor for institutional support services, told trustees Thursday.
But she said UAMS is estimating $7 million for improvements, though that is "purely an estimate because we have not done the design work yet."
Excluding amortized payments for construction costs exceeding the allowance, the 20-year lease is for about $24.5 million, according to board documents.