John Ruskin and Jacque Ducharme in the San Francisco office of Studley, who represented the association, say the move was prompted by several factors. One was the recent sale of 550 California St. to Wells Fargo, which will be taking space in the building as an owner-occupant. Another was PMA's desire for more cost-efficient and functional office space. Ruskin explains that PMA's growth at 550 California St. occurred in a piecemeal fashion over many years, resulting in a layout that "lacked functionality and was less than employee-friendly," Ruskin says. By relocating to 555 Market, PMA "will be able to start fresh and configure its work space in a way more suitable to how it operates in the 21st century," he says. Ruskin adds that the new lease saves money for the association because its previous lease was signed at what are now above-market rates.
The Studley team of Ruskin and Ducharme is the exclusive commercial real estate services provider for PMA throughout California, Oregon and Washington. Landlord 555 Market was represented in the transaction by Wendy Lister, DivcoWest's director of leasing, and The CAC Group, led by William Cumbelich.
The Pacific Maritime Association negotiates and administers maritime labor agreements with the International Longshore and Warehouse Union (ILWU). The membership of the PMA consists of American flag operators, foreign flag operators, and stevedore and terminal companies that operate in California, Oregon and Washington ports.
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