Oxbow Capital Commits to Opus' Project

Oxbow Capital Partners, a Tacoma investment banking and venture capital firm, has committed to occupying about a third of Opus Northwest’s proposed new office tower and retail center in downtown Tacoma.

The decision by Oxbow Capital Partners allows Opus to begin designing and applying for permits for the project’s $50 million first phase, as the firms lease puts Opus much closer to pre-leasing requirements. Paying heed, the project once called Pacific Steps has been renamed Oxbow Financial & Technology Center.

Oxbow has agreed to occupy 70,000 square feet of offices in the 220,000-square-foot building. Starbucks and McDonald’s will lease about 6,500 square feet of 40,000 square feet of retail space in the project’s first phase. Though construction is not certain, Opus says it will be ready to build once leasing passes 50 percent, or about 110,000 square feet.