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Opus Signs Another Extension with Pierce County

TACOMA, WA-Opus Northwest inks yet another extension for its option on a 1.15 acre downtown Tacoma site owned by the county, but there are no indications the company is prepared to move forward with development anytime in the near future.

By Janet Parker | Updated on August 31, 2001

TACOMA, WA-Opus Northwest has re-upped its option on 1.15 acres of Pierce County land on Pacific Avenue it has kept tied up for three years now, waiting for the right moment. The latest extension, signed last week, expires at the end of November, Dan Cagle, Pierce County’s director of facilities management, tells GlobeSt.com.

When the market was flying high a little over a year ago, Bellevue-based Opus NW had big plans for the parcel, including 400,000 sf of office and retail in a pair of high rises. Since then, the developer has downsized its plans to a 150- to 200-room limited-service hotel as a first phase and then a mix of office and retail smaller in scale than the original.

Chris Burdette, a hotel broker with the Seattle office of Colliers International charged with finding an operator for Opus’s proposed mid-scale, limited-service hotel, tells GlobeSt.com there have been no takers yet, but “we’re still working with a couple of companies.”

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