BART, which has already exhibited notably more fiscal acumen than many of its fellow Bay Area transit agencies, is getting recognized by a local publication for its latest achievement in shrewd financial management.
Taking advantage of low rental costs, BART’s real estate team recently signed a lease extension for their administrative offices that will save the agency $8 million over the next seven years. The agreement for the agency’s space at the Kaiser Center in Oakland includes one-year free rent and $4 million credit for previous and future tenant agreements, according to the agency. The lease runs through 2021.
For their keen eye, BART’s real estate team has been honored by the San Francisco Times for having the “Best Office Lease in the Inner East Bay.”