southern waterfront with an initial monthly rent of $47,789.14 for a 31-month term, to commence fapproval. portt >> # 1234 supervisor mark farrell: okay, thank you very much. madam clerk. mr. cruz. from our port real estate office to report on these items oovment thank you supervisor. members of the committee i'm nate cruise. we are here to request your approval for affordable self storage which is a current tenant. these two leases would relocate their operations within the 70-foot print to the northwest to the southwest corner. the combined area of the lease is approximately 220,000 square feet. which is a lease of approximately 50 percent. the elite rate is about $0.33 per square foot which is a lease rate combined with the standing foot print and the rent rate. the port would yield an 80 percent increase in revenue. both the foot print is designed to do have tail with the anticipated with the development by the city and that's why these are separated and have staggered draegsz. -- duration. if you have any questions, i will be happy to answer and i'm an accompanied by my colleagues. s