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Port Commission approves two short-term ground leases for storage uses in Seawall Lot 349
Summary
The commission approved two ground leases with Affordable Self Storage, Inc. for Seawall Lot 349 (lease L15690 for mini-storage and L15691 for vehicle/storage container parking), subject to Board of Supervisors approval; staff emphasized phased terms tied to Forest City development plans and community-benefit deposits.
The Port Commission voted to approve two ground leases with Affordable Self Storage, Inc. for portions of Seawall Lot 349 in the Southern Waterfront as part of a Pier 70 staging and interim-use strategy.
Gerry Romani of the Port Real Estate Division summarized the two leases. Lease L15690 covers roughly 74,742 square feet with an initial term of 58 months and up to five 12‑month extension options; intended use is a temporary mini-storage facility comprising portable storage containers and administrative offices. The base rent for year 1 was quoted as $24,664.86 per month (about $0.33 per square foot), with 3%…
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