Valley Metro Weighs Long-Term Office Lease Amendment

Scope & details

The full contract record, as filed.

Contract amount

Cost 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.

Contract type

FACILITIES

Contract term

Extension of existing administrative office lease through September 30, 2042 (195-month renewal term beginning July 1, 2026)

Renewal date

2042-09-30

Renewal

Fifth amendment renews and extends the existing lease for 195 months starting July 1, 2026, with two additional five-year renewal options at fair market rent, two early termination options in June 2034 and June 2038 with an early cancellation fee, and two contraction opportunities on the same dates with a contraction fee. The amendment resets base years for operating expenses and taxes, adds expansion and right-of-first-refusal options for the 15th and 16th floors, and continues numerous protective provisions from the original lease.

Document type

Agenda

Source document

Valley Metro Joint Boards Meeting Agenda April 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 RPTA Joint Boards of Directors Meeting Agenda March 2026

AMENDED

Regional Intergovernmental Public Transportation Authority, ArizonaNot to exceed $35,859,553 for the amendment term (base rent $34,315,362 plus 4.5% for operating expenses and taxes)Mar 26, 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 April 16, 2026. The contract value is Cost 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..

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 Cost 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., covering facilities work.

What type of contract is this?

This is a Facilities contract, documented as a agenda record.

Where was this contract approved?

This contract appears in Valley Metro Joint Boards Meeting Agenda April 2026 (Agenda), dated April 16, 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?

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