Capitalized by Apollo Real Estate Advisors LP of New York City and Dallas-based Prescott Realty Group, WiredZone purchased the building from Raytheon Co., a Lexington, Mass.-based defense contractor. Vance Detwiler, director of acquisitions for WiredZone, said the company will put "several million" dollars into the building to prepare it for bandwidth-intensive, high-tech and telecommunications tenants.
Harbour Pointe, the company's first purchase in the region, will be the largest block of high-bandwidth Class A office space available in the Seattle-area market, Detwiler said. At a purchase price of less than $66 a square foot, it is also one of the least.
Detwiler said the low purchase price allows WiredZone to beef of the building's communications infrastructure to attract high-tech and telecommunications tenants. The waterfront location should be a draw as well, he said.
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