Tommy Bamaha Preleases South Lake Union Office Development for New HQ

SEATTLE-Development Partners Vulcan Inc. and Westlake Partners LLC are looking to break ground as soon as possible on an 85,000-sf, six-story office building in the South Lake Union area now that locally based clothier Tommy Bahama has preleased 91% of the building for its new headquarters. The developers have committed to having the building ready for occupancy in just over a year. Sellen is the general contractor for the project.

Broker Bryan Syrdal of Teutsch Partners LLC represented Tommy Bahama in the transaction while Colliers International brokers Tim O’Keefe and Jesse Ottele represented Vulcan. None of the parties involved would discuss the lease rate on the transaction, but local brokers familiar with the deal tell GlobeSt.com that the developers would need to bring in around $25 per sf per year on a triple net basis just to cover their costs.

The office building will rise at 428 Westlake Ave. Retail tenants will occupy the remaining space of the building. Tommy Bahama’s new headquarters will house the company’s design, merchandising, wholesale operations, retail operations, information technology, human resources and administrative offices—-325 employees in all.