SAN FRANCISCO-With its approximately 545,000-sf lease at 1155 Battery St. set to expire at the end of 2012, Levi Strauss & Co. has retained Staubach Co. to help it decide its future in real estate. Its options include remaining at Levi Plaza, relocating within the city or relocating outside the city but still in the Bay Area. Beyond that, it must choose between existing buildings and new development.

A source with Levi tells GlobeSt.com that the company has been out of the market for several years and wants to have a good understanding of the current rental rates for a renewal versus the other options. “This background work is standard when considering a long-term lease commitment and our company policies require competitive bidding on all our contracts,” he states in an email. “We have hired the Staubach Company to assist with this work.”

Whatever it does, it appears that it will be in a smaller footprint. A local broker confirmed for GlobeSt.com that Staubach sent out RFPs on behalf of Levi for 300,000 sf of office space. While substantially less than it currently leases, 300,000 sf may not be substantially less than the company currently occupies, as it subleases a portion of its space.

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