The transaction is one of the largest leases of an Auburn office property in recent years. The lease rate for the ten-year lease was not announced, but advertised full-service asking rates for large class A office spaces in the Auburn market range from $18 to $21 per sf per year. Typical owner concessions include turnkey tenant improvements and as much as several months of free rent.
"We conducted a comprehensive search for a site," says Firoz Lalji, president and CEO, Zones Inc.. "This site met our key criteria: a corporate campus environment, access to major amenities for our employees and a convenient location between Seattle and Tacoma."
Boeing Realty is a wholly owned subsidiary of The Boeing Co. that directs all real estate strategies, acquisitions and dispositions, development and leasing worldwide for The Boeing Co. Zones is a single-source direct marketing reseller of name-brand information technology products.
Boeing Realty was represented in the Zones transaction by Bill Pollard, Ann Chamberlin, Dan Foster and Stuart Williams of Pacific Real Estate Partners. Zones was represented by Mike Hemphill of The Andover Co. and John Cox of Insignia Kidder Mathews.
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