DeVry, which owns the site and building, plans to open the new educational facility in July. However, the college is offering only limited enrollment for first-semester, first-year students until it is fully operational. Several years down the road, DeVry pegs this school's capacity at 3,000 to 3,500 students. Currently DeVry has 19 schools throughout North America.
The campus is set on 11.5 acres of Quadrant's 106-acre East Campus and will contain a two-story classroom/office building, as well as three levels of structured parking.
Prior to giving the go-ahead to build, Quadrant had to deal with a wetlands' issue on the land. The City of Federal Way issued a mitigated determination of non-significance for about 3,200 sf of wetlands, which was filled prior to groundbreaking.
Eventually, Quadrant expects its East Campus to hold in the vicinity of 1.2 million sf of built-to-suit and leased offices. At present only 2,684-sf of space remains available for lease in the business park, says George Sherwin, VP and COO of Quadrant's commercial division. The rate for that space in building VI is $15 per sf.
Sherwin tells GlobeSt.com that just last week Quadrant leased 91,518 sf in buildings IIIC and IIID to Weyerhaeuser at market price, listed at Quadrant's Web site (www.quadrantcommercial.com) as $17 per sf.
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