Alaska got into CenterPoint by subletting space from REI.com, which signed on for 40,000 sf last May, says Jack Rader, CenterPoint's general manager. Just about that time they completed tenant improvements, however, REI announced that it had decided to retain in-house the department that had been slated for a move to CenterPoint.
A few months later, Alaska Airlines sublet the space. Rader tells GlobeSt that the development has just signed two additional deals with the locally-based airline -- one for approximately 7,000 sf, the move into which was just completed last month - and the second for about 9,000 sf, which Alaska will occupy in the next few weeks.
By Rader's calculations, roughly 260,000 sf remain available, leaving CenterPoint occupancy rate at just under 67%. CenterPoint's amenities, on which Rader says Intracorp is spending nearly $2.7 million, are nearly complete.
Amenities include a 10,000-sf childcare center, a 3,500-sf athletic center, and a 160-seat, state of the art conference center complete with a large plasma screen and about every available telecom bell and whistle available. Rader says the teleconferencing-capable center is available for rent by companies outside the complex as well. Additionally, he says CenterPoint will announce a new lease with a top-end restaurant operator, which will run a 10,000-sf full-service eatery on the campus.
The eight-building CenterPoint campus at 20415 72nd Avenue S. was built in 1987 as Boeing Space Center East. The Southend has benefited from the high-priced Seattle and Eastside office markets. Many tenants reluctant to pay sky-high rents and willing to drive a few extra miles have found the $17/sf to $19/sf rates at CenterPoint more palatable. Dan Foster of Pacific Real Estate Partners in Bellevue is Intracorp's leasing agent for the building.
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