On May 1, 2024 the City and County of San Francisco entered into a 21-year office lease with Hudson 1455 Market Street, LLC for approximately 157,154 rentable square feet of core and shell and future build-out improvements at 1455 Market Street. The lease encompasses Phase I premises on floors 7, 12, 13, 16 and 17 and includes a $100/RSF tenant improvement allowance, $15/RSF moving allowance and options for additional Phase II and floor expansions through December 31, 2027. The base rent begins at $40.00/PSF in year one and escalates 3% annually to $72.36/PSF by year 21, with electricity billed at cost and parking available at market rate. The City’s leasehold improvements will be constructed per city specifications under prevailing wage requirements, and the lease secures parties’ occupancy, future expansion rights to “Additional Premises” and a building purchase option. Landlord also grants the City rooftop communications rights and maintains first-class security and janitorial standards in C-G-3 zoning.