However, Denise Hoffman of Martin Smith Inc., leasing agent and property manager for Museum Plaza, said today they are "in negotiations with Nordstrom to extend their lease," now scheduled to expire in February 2002. When asked about reports that Nordstrom was definitely moving, Hoffman responded, "People change their minds. They're (Nordstrom) looking at staying." Negotiations for extension include a price of $25 per sf, and a term running to or near 2010, when the building is expected to be demolished by its owner, the Seattle Art Museum. Housed adjacent to the Museum Plaza, the Seattle Art Museum board has voted to eventually expand onto the site now occupied by the office building, a fact all current tenants are aware of.

The Museum Plaza, like Nordstrom, is keeping their options open. Anticipating the possibility of losing the tenant that now occupies 85% of the building, Martin Smith, Inc. is negotiating with possible replacements. "We keeping lots of fingers out their just in case," says Hoffman.