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Wright Runstad Scales Down Dearborn Street Development

SEATTLE, WA-The locally-based developer is cutting one building from the project slated for a 3.3 acre property acquired from Goodwill Industries recently in exchange for an $8 million renovation of the nonprofit's offices, classrooms and retail store.

By Janet Parker | Updated on December 04, 2000

SEATTLE, WA- Seattle developer Wright Runstad & Company is scaling down its high-tech office campus along Dearborn Street, a stone’s throw from on ramps to Interstates 5 and 90, the regions two most important freeways. Originally slated to contain four low-rise buildings, the project has been whittled down to three buildings, each with four stories and floor plates averaging 40,000 sf. Altogether, instead of the original 554,000-sf, the complex will contain 495,000 sf of Class A space and an estimated 1,142 parking spaces, for a 2.63/1,000 sf parking ratio. A Wright Runstad company source tells GlobeSt. the offices will have access to fiber optics and electrical services capable of accommodating high-tech tenants.

Turner Construction has been selected as general contractor for the development, which is currently in the permitting process. Groundbreaking is targeted for May 2001, with completion staggered throughout 2002, with the final building ready in Dec. 2002. Wright acquired the property through a renovation-for-land agreement, Goodwill Industries. As part of that transaction, the Goodwill’s Seattle facilities will receive a renovation estimated at $8 million. The 60-year-old Seattle facility, already the non-profit’s largest in the U.S., will contain 140,000 sf. following construction.

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