Filner Announces New Downtown Lease Negotiations

San Diego Mayor Bob Filner announced Monday that his volunteer lease negotiator has struck a deal that is expected to save the city up to $15.8 million over five years with a new lease for at least 77,000 square feet of office space. The city will pay $1.25 per square foot, down from the current $2.62 for the public utilities and engineering departments. The new deal, brokered by Hughes Marino principal Jason Hughes, is expected to save $2.8 million in the coming budget year, even after accounting for moving costs from 600 B Street to 525 B Street.

Read More