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Committee continues DPH lease at 333 Valencia after substantive amendments to rent and TI numbers
Summary
The committee reviewed a proposed 15-year DPH lease for 333 Valencia with negotiated reductions in rent and other concessions but continued the item after staff read substantive redline amendments (adjusted annual base rent and tenant-improvement amounts) that require further review.
The Budget and Finance Committee reviewed a proposed 15-year lease for 333 Valencia Street that would relocate roughly 223 Department of Public Health staff from 30 Van Ness as part of the department's Civic Center relocation plan, but the committee continued the item after real-estate staff read substantive amendments into the record that increased the figures relative to the introduced resolution.
DPH Chief Financial Officer Greg Wagner and the city's real-estate director described the deal points: the parties negotiated a reduced base rent from a pre-negotiation $55 per square foot to…
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