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Title:
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Resolution approving and authorizing the Director of Property, on behalf of the San Francisco Employees’ Retirement System (SFERS), to execute a lease agreement with Double Wood Investment, Inc., a California Corporation, as landlord, for use of a portion of 111 Pine Street, consisting of 47,482 rentable square feet for an initial term of 10 years with two five-year extension options to renew and 12 months of rent credit with an annual base rent of $2,089,208 with 3% annual increases; SFERS to contribute up to $4,748,200 on tenant improvement; effective upon approval of the Resolution by the Board of Supervisors and the Mayor and upon execution of the lease by the Director of Property; and authorizing the Director of Property to execute any amendments, make certain modifications and take certain actions that do not materially increase the obligations or liabilities to the City, do not materially decrease the benefits to the City and are necessary or advisable to effectuate the purposes of the lease agreement or this Resolution
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