Posted by: BayAreaComRE | February 26, 2010

Back to the Drawing Board for the EPA

File this story under category “frustrating”. The San Francisco Bay Area’s real estate community has been awaiting an announcement in regards to the Environmental Protection Agency’s (EPA) headquarters, but it certainly wasn’t a what we expected. Without any sense of urgency, the EPA has elected to fore-go their decision for the time being and go back on the market.

According to J.K. Dineen (and confirmed by a primary source) of the SF Business Times:

“The EPA is going back  to square one in its search for a new, 300,000 square-foot San Francisco headquarters. More than a year after soliciting bids for a new facility for the Environmental Protection Agency, the federal government has rejected all the proposals. Instead, the GSA, the agency in charge of the federal government’s real estate, has issued a new requirement for downtown Class A office space.”

370 Third Street will likely face foreclosure (Lane Partners has largest stake) now that they are out of the running, while the development site at 350 Bush Street owned by Lincoln Properties and 75 Hawthorne (where the EPA currently resides) owned by Hines will likely remain in the running.

In order to do so they must respond to a newly issued RFP (Request for Proposals) which, among other things, asks for a 20 year term, not uncommon for the GSA, but rare for the typical San Francisco tenant. Responses are due by March 5th and occupancy must be no later than November 30, 2011.

For the entire story click here.

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Responses

  1. […] list of tenants in demand for office space) as the largest user in demand close to 300,000 sf (Back to the the Drawing Board for the EPA). The California State government is offering the largest portfolio of buildings in California […]


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