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Committee backs Port lease with IDEO at Pier 26 annex after analyst flags noncompetitive history
Summary
The committee recommended a five-year lease (plus a five-year option) at Pier 26 Annex with tenant IDEO, noting $900,000 tenant improvements and rent terms; the budget analyst recommended adding a finding to address the lease's noncompetitive history and requiring a report at lease end.
The Budget and Finance Committee voted to forward a proposed Port lease at Pier 26 Annex to the full Board of Supervisors with the committee's recommended amendment after the Budget Analyst raised policy concerns about the lease's noncompetitive history.
Gerry Romani of the Port Real Estate Division summarized the proposal: the lease covers 12,360 square feet of existing office space and 7,074 square feet of expansion space to be renovated into offices. Rent for the existing space was shown as $32,136 per month…
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