Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Real estate office outlines plan to reduce leased footprint; committee advances three-year DPH lease at Fox Plaza
Summary
The Budget & Finance Committee heard a citywide real estate portfolio briefing and advanced a three-year, bridge-style renewal for the Department of Public Health's 27,826 sq ft lease at Fox Plaza; the BLA said first-year cost is about $1.8 million and recommended approval.
John Updike, director of Real Estate, told the Budget & Finance Committee that San Francisco's citywide portfolio comprises roughly 44,000,000 square feet within the city and county and that only about 4 percent of that portfolio is leased from private parties.
"We lease from private properties only 4% of our portfolio," Updike said during his presentation and described the Civic Center office holdings as about 19 percent leased today. He said the department's goal is to reduce that leased share toward 15 percent by 2022 through lease terminations, consolidations and new city-owned space coming online.
Updike outlined the administration's approach: terminate near-term lease expirations affecting about 100,000 sq ft,…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
