Search
 

NBBJ, Building Owners Posture for Lease Deal

SEATTLE-The locally based international architecture firm is publicly testing the waters here en route to a new lease commitment of 100,000 sf or more. The lease at its current headquarters in Pioneer Square is up at the end of next year.

By Gina Binole | Updated on August 16, 2002

SEATTLE-NBBJ’s effort to secure office space for the next decade has gone public.The international architecture firm — whose local projects include the Two Union Square office building and the Major League Baseball stadium Safeco Field — occupies about 90,000 sf in two Pioneer Square buildings, 111 S. Jackson St. and 83 King St.

The majority of the leased space is in the Jackson Street building, and the lease for that space runs out at the end of next year. Signing a deal now would remove concerns about the future and also likely save money, as current asking rates are likely at or below what NBBJ locked in at the last time it singed a lease commitment–especially if it stands to gain some design work from Allen as well.

NBBJ managing partner Scott Wyatt did not immediately return a phone call seeking comment, but told the Seattle Post-Intelligencer this week it would “be hard” to leave, but the company must make its decision based the best long-term strategy for the firm. He said the firm is also considering the South Lake Union area, where billionaire Paul Allen has a heavy concentration of ownership, as well as other locations.

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.