A source with Levi tells GlobeSt.com that the company has been out of the market for several years and wants to have a good understanding of the current rental rates for a renewal versus the other options. "This background work is standard when considering a long-term lease commitment and our company policies require competitive bidding on all our contracts," he states in an email. "We have hired the Staubach Company to assist with this work."
Whatever it does, it appears that it will be in a smaller footprint. A local broker confirmed for GlobeSt.com that Staubach sent out RFPs on behalf of Levi for 300,000 sf of office space. While substantially less than it currently leases, 300,000 sf may not be substantially less than the company currently occupies, as it subleases a portion of its space.
Known as Levi's Plaza, 1155 Battery St. has a total of 838,000 sf of office space. The building owner is Gerson Bakar and Assoc., which retains Interland Jalson as the third party property manager. Interland deferred questions to Gerson Bakar's Stephen LoPristi, who was not immediately available Wednesday afternoon for comment.
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