County Leasing 67,000 SF at Bank of America Tower

SEATTLE-King County Property Services is in the process of leasing 67,000 sf at Bank of America Tower to accommodate occupants of the County Courthouse complex, which is undergoing undergoes renovations and a seismic upgrade in response to structural damage sustained during the February 2001 earthquake.

Jim Napolitano, major project manager for the King County’s Facilities Management, tells GlobeSt.com the county has signed a two-year lease for around 47,000 on the Downtown office tower’s 35th and 36th floors. The floors are master leased by Regus, a publicly-traded provider of furnished office space and related business services.

The full-service annual lease rate on the Regus deal starts at $22 per sf and ramps up to $24 over the life of the lease, says Napolitano. “We sort of lucky the economy went in the toilet,” Napolitano tell GlobeSt.com, explaining that before the economy tanked it was hard to find significant contiguous space and lease rates were in the $30s.