The agency has leased about 4,416 sf for a 10-year term at 1111 Jackson Street. The Federal General Services Administration, which inked the deal on behalf of the Customs Service, agreed to pay $46.67 sf annually for the first five years and $53.77 sf for the rest of the lease term.
The Customs Service will join the Park Service and the Social Security Administration that already have offices in the 140,000 sf historic building. The property is under renovation by Encinal Jackson, and entity formed by Oakland-based Encinal Industries.
An additional 16-story building is slated to start construction in September.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
