IDEO LLC is expanding its presence at the San Francisco Port’s Pier 26 Annex on The Embarcadero.
The Board of Supervisors Budget and Finance Committee approved a proposed lease with the company Wednesday. It will require full board approval, which is expected.
The company has occupied 12,360 square feet of office space at the pier for more than 15 years, and with the lease approval will expand to occupy an additional 7,074 square feet for workshop and storage space that the company would renovate. The company will pay for the renovation, which is estimated to cost $900,000, according to a report for the Board of Supervisors by Budget Analyst Harvey Rose.
IDEO is currently paying a base rent of $31,765 which under the proposed lease would increase to $40,271 per month with annual 3 percent increases.