The rental rate for the office space will be in the neighborhood of $32. Completion is projected for June 2001. Holloman and his fellow CBRE brokers Oscar Oliveira and Tim Owens are the property's leasing agents. None of the space has been preleased yet, but Holloman tells GlobeSt businesses find the Kirkland central business district appealing, in part due to the absence of a business & occupation tax. "Although the market has softened some from six months ago, there's quite a bit of demand and low vacancy rates (in Kirkland)," says Holloman.
The project is being developed on a former residential site. TWS Development, owned by Tom Singleton, is partnering with Gary Jezek on the project. The general contractor is Construction Associates Inc. of Mountlake Terrace. The project's architect is Ruhl-Parr & Associates of Bellevue.
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