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UCSF Leases Fifth Floor of Mills Building

SAN FRANCISCO-The 38,297-sf full-floor lease drops vacancy in Swig Co.'s 22-story Downtown building to 2%.

By Brian K. Miller | Updated on December 18, 2007

SAN FRANCISCO-The University of California at San Francisco has signed a long-term lease for the fifth floor of the Mills Building, a 22-story financial district office building at 220 Montgomery St. The 38,297-sf full-floor lease drops vacancy in the building to 2%, according to the building owner, Swig Co.

UCSF leased the space for its Development Office. The office will relocate from 44 Montgomery St. The move is expected to occur in the second quarter of 2008. The negotiated lease terms were not immediately available. The average class B asking lease rate in the North Financial District is $39 per sf per year, according to a third quarter report from Cornish & Carey.

Swig Co. leasing director David Fuette says the commitment by UCSF is the largest the building has seen this year. Fuette intimated that part of the allure of the building for the University was its floor plates, which are large enough to house the operations of its Development Office on a single floor. A University spokesperson was not immediately available Tuesday for comment.

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