Valley Metro Extends Downtown Office Lease to 2042

Valley Metro proposes to amend and extend its administrative office lease with SkanlanKemperBard Companies through September 30, 2042, at a maximum additional value of $35.86 million. The long-term lease locks in below-market rates, significant rent abatements, upgraded tenant improvements, and flexible options for future expansion or downsizing.

Scope & details

The full contract record, as filed.

Contract amount

Not to exceed $35,859,553 for the amendment term (base rent $34,315,362 plus 4.5% for operating expenses and taxes)

Contract type

FACILITIES

Contract term

Lease extension term through September 30, 2042 (195 months)

Renewal date

2042-09-30

Renewal

Amendment renews and extends the existing lease for 195 months with 22 months free rent, updated 2027 and 2033 operating expense base years, two five-year renewal options, two early termination dates (2034 and 2038), and rights to expand or contract space.

Document type

AgendaPacket

Source document

Valley Metro RPTA Joint Boards of Directors Meeting Agenda March 2026

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Valley Metro Joint Boards of Directors Agenda 2026-05-21

APPROVED

Valley Metro Rail Inc., ArizonaNot to exceed $35,859,553May 21, 2026

Valley Metro Joint Boards Meeting Agenda April 2026

PENDING

Regional Intergovernmental Public Transportation Authority, ArizonaCost for the extension is $34,315,362 (base rent), plus 4.5% for operating expenses and taxes. The aggregate contract value for the amendment term will not exceed $35,859,553.Apr 16, 2026

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the facilities contract by Regional Intergovernmental Public Transportation Authority?

Skanlankemperbard Companies was awarded this facilities contract by Regional Intergovernmental Public Transportation Authority, as recorded on March 26, 2026. The contract value is Not to exceed $35,859,553 for the amendment term (base rent $34,315,362 plus 4.5% for operating expenses and taxes).

How much is the Skanlankemperbard Companies contract with Regional Intergovernmental Public Transportation Authority worth?

The Skanlankemperbard Companies contract with Regional Intergovernmental Public Transportation Authority is valued at Not to exceed $35,859,553 for the amendment term (base rent $34,315,362 plus 4.5% for operating expenses and taxes), covering facilities work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in Valley Metro RPTA Joint Boards of Directors Meeting Agenda March 2026 (AgendaPacket), dated March 26, 2026 from Regional Intergovernmental Public Transportation Authority. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Skanlankemperbard Companies hold?

Skanlankemperbard Companies 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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What is Regional Intergovernmental Public Transportation Authority currently buying?

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