Search
 

50,000-SF Commitment Sets 307 Westlake for Construction

SEATTLE, WA-Seattle Biomedical Research Institute has signed a letter of intent to anchor the 112,000-sf medical office project. Construction is expected to begin this summer and end the following summer.

By Janet Parker | Updated on February 22, 2002

SEATTLE, WA-With Seattle Biomedical Research Institute intent on leasing approximately half of 307 Westlake, co-developers Vulcan Inc. and Harbor Properties saving they are ready to move the 112,000-sf project off the drawing board and into the construction phase.

The developers say SBRI has signed a letter of intent to lease the space, and that construction will begin this summer and end the following summer. “This deal has been in the works for a while, and now it’s ready for prime time,” says Jim Mueller of Vulcan Inc.

Stephen Fina, VP of Harbor Properties tells GlobeSt.com SBRI is, thus far, the only tenant online. Another 50,000 sf remains available, as well as 9,600 sf slated for retail on the ground floor. Fina declined to pinpoint 307 Eastlake’s asking rents, explaining, “Biomed leases are very complicated, and rates depend a lot on how much of the [generally extensive] tenant improvements will be done by the landlord.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.