MSP Kentwood Lease Extended and Facility Renovation Approved | Michigan Department of Treasury | VREI 40TH LLC

Scope & details

The full contract record, as filed.

Contract amount

$9.70/sq ft for added 10-year period ($18,696.75/month); construction build-out not to exceed $2,010,983.00

Contract type

FACILITIES

Contract term

Extended 10 years, now through January 22, 2043; 20-year lease term total

Renewal date

2043-01-22

Renewal

Total lease now 20 years. Standard cancellation clause applies. Additional build-out funded up to $2,010,983.

Document type

Agenda

Source document

state_administrative_board_agenda_january_4_2024.pdf

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Michigan State Administrative Board Agenda 2026-09-15

AMENDED

Michigan Department of Technology, Management and Budget|Administrative Board, MichiganNot to exceed $5,193.10Sep 15, 2026

building_committee_state_administrative_board_agen.pdf

APPROVED

Michigan Department of Treasury, Michigan$15,323.63/month base ($7.95/sq ft), $6,746.25/month ops ($3.50/sq ft), 2% annual base increase, 10-year termJan 6, 2026

state_administrative_board_agenda_november_4_2025.pdf

AMENDED

Michigan Department of Treasury, Michigannot-to-exceed $257,493.50Nov 4, 2025

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the facilities contract by Michigan Department of Treasury?

Vrei 40th Llc was awarded this facilities contract by Michigan Department of Treasury, as recorded on January 4, 2024. The contract value is $9.70/sq ft for added 10-year period ($18,696.75/month); construction build-out not to exceed $2,010,983.00.

How much is the Vrei 40th Llc contract with Michigan Department of Treasury worth?

The Vrei 40th Llc contract with Michigan Department of Treasury is valued at $9.70/sq ft for added 10-year period ($18,696.75/month); construction build-out not to exceed $2,010,983.00, covering facilities work.

What type of contract is this?

This is a Facilities contract, documented as a agenda record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in state_administrative_board_agenda_january_4_2024.pdf (Agenda), dated January 4, 2024 from Michigan Department of Treasury. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Vrei 40th Llc hold?

Vrei 40th Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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