The California State Automobile Association (CSAA) recently completed negotiations for a site near Walnut Creek, Calif., for the relocation of their headquarters in San Francisco.
CSAA will occupy a 255,000 square-foot, six-story build-to-suit lease with a purchase option, with Equity Office Properties, which was acquired earlier this year by Blackstone Group, L.P.
The transaction required expertise involving leasing, tax, land use, construction, and finance. Construction on the 255,000 square foot building near a BART transit station is scheduled to begin early in 2008 and be completed in 2009. The buildings that comprise the CSAA office complex in San Francisco are up for sale.
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