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OCII Approves 10‑Year Lease Extensions for Yerba Buena Gardens Cafés to Preserve Small Businesses
Summary
The commission conditionally authorized First Amendments extending Samovar Tea Lounge and B Restaurant & Bar leases for 10 years with a 15‑year option, using an AECOM market study to set rents and tenant‑improvement credits; Oversight Board and Department of Finance review remain.
The Commission on Community Investment and Infrastructure on Sept. 1 conditionally authorized 10‑year lease extensions, with 15‑year options, for two café spaces at Yerba Buena Gardens occupied by Samovar Tea Lounge (West Café) and B Restaurant & Bar (East Café).
OCII staff said the measures aim to preserve small businesses that have operated in challenging, upper‑floor locations in the Gardens and to secure a continuing revenue stream to fund park operations and capital needs. Marie Munson, OCII senior development specialist, presented an AECOM market study that evaluated 20 comparable downtown leases and concluded that upper‑level secondary spaces have significantly lower market rents than prime street‑level…
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