The 15-year lease is set to begin in November 2004, when construction is expected to be complete, according to a Securities and Exchange Commission document filed by Corixa earlier this week. The Seattle-based Touchstone Corp., which built the Maple Street Office Building in Issaquah and Northgate North, is developing the building.
According to the 8(k) filing, Corixa will pay $33 per sf per year until 2006. The rate then is slated for incremental increases until it tops out at $47.48 in the last year of the lease.
Corixa leases about 85,000 sf at its current headquarters.
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