The news from the project had been slim since last fall, when announcements were made about the organic supermarket Whole Foods taking the 43,000-sf ground floor of Block One and Gordon Biersch Brewery and Baja Fresh taking a combined 14,000 sf on the ground floors on Block Two.
Now, however, Sur la Table, the Seattle-based cookware retailer, tells GlobeSt.com it will open 6,100-sf location in Block Two, and PF Chang's tells GlobeSt.com it has been looking into opening a 6,500-sf location in the Brewery Blocks, "but nothing is signed yet."
As well, 24-Hour Fitness is reportedly negotiating to take over the 20,000-sf Armory Building, which sits on half of Block 3. Gerding Edlen Principal Mark Edlen confirmed Sur la Table's lease and PF Chang's Interest, and chose not to comment on the information about 24-Hour Fitness.
"We have a deal in the works for just about every retail space in blocks Two and Four," Edlen tells GlobeSt.com. "Before Christmas, we couldn't buy a phone call, but since January it's been very, very active."
Edlen adds that a groundbreaking will occur next month for the other half of the Armory block, a parking lot that will become a 15-story condominium tower. The delivery date for the units is January or February of 2004. Howard S. Wright is the contractor. GBD Architects is the project designer. Block Five, which as yet has no start date, is slated for a 230-unit apartment building over 40,000-sf of ground-level retail.
As for the office space in the blocks, Edlen says Block One is 95% leased, Block Four is 55% leased and Block 2, which was sold off to finance the rest of the project, is about 13% leased. The office tenant in Block One is Tycom (80,000 sf). The office tenants in Block Four is the Art Institute of Portland (82,000 sf) and M Financial (52,000 sf). The only signed tenants so far for Block Two are Pacific Real Estate Management, Gerding Edlen and GBD Architects, which have committed to 4,000 sf, 7,000 sf and 15,000 sf, respectively.
John Kellogg of HSM Pacific is handling retail leasing at the project. Gerding Edlen's Scott Eaton is handling office leasing.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 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.
