SAN FRANCISCO – Just days before contract negotiations for 4,000 Bay Area security officers are scheduled to resume, RREEF executives are calling on security contractors to “negotiate a fair contract that results in fair wages and family health coverage – similar to those of janitors and other building service workers as soon as possible.” Chicago-based RREEF is a global real estate investment company with more than $80 billion in assets under management. RREEF properties in the Bay Area include 505 Montgomery Street, China Basin Landing, and the San Francisco Design Center, among others
The news that a prominent Bay Area building owner is calling for an end to the ongoing labor dispute comes as security contactors and the security officer union return to the negotiating table on Wednesday. More than 4,000 security officers across the Bay Area have been working under an expired contract since June 30, 2007. Four weeks ago, Mayor Newsom urged building owners “to assert a greater role in fostering a quick resolution between the security guards and security guard companies.”
The RREEF statement to Building Owners and Managers Association (BOMA) of San Francisco expresses the real estate leader’s belief that providing family health care for service workers enhances the value of their investments.
“At RREEF buildings throughout California and in many other cities nationwide, janitors receive employer-paid full family medical benefits. We have found that providing health care benefits and decent wages reduces workplace turnover and improves the quality of building services provided. Similarly, RREEF supports efforts to raise standards for building security officers in San Francisco and other office markets across the country. We believe that fair wages and healthcare benefits will help retain a workforce of well-trained, experienced security officers who are familiar with our properties and the needs of our tenants, thus enhancing building security and overall building value.”
Visit www. StopTheDoubleStandards.org now to see the complete letter from RREEF to BOMA-SF.