Since the 5260 doles out IP addresses being it is DHCP, there is a setting under DHCP and then Add Reserved Addresses and it allows a MAC address.
However you cannot input a MAC address so it will serve me no good. In the Netgear AP there is a way to reserve addresses under Avanced and Static Routes menu selection. If you own a MacBook, you may want to create a new network location. Navigate to the Static MAC/IP Mapping tab to verify or alter the new mapping. Change the IP address to the new value (192.168.1.240 in this example) and optionally change the name. Select the Map Static IP option for the dynamic lease that needs to converted to a static mapping.