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Software Firm Soaks Up 29,000 SF at Plaza East

BELLEVUE, WA-Pacific Edge Software signs on for one-and-a-half floors in the eight-story, 148,500-sf Downtown office building here, lowering its vacancy to 40%.

By Brian K. Miller | Updated on November 22, 2004

BELLEVUE, WA-Pacific Edge Software had signed on for about 29,000 sf on the sixth and seventh floors of Plaza East, an eight-story, 148,500-sf Downtown office building here that is owned by Equity Office Properties. The lease drops vacancy in the building to about 27%. Pacific Edge, a provider of portfolio management software, will relocate to the space in January from less than half as much space in the Sweeney Conrad Building at Northrup Way and 116th in North Bellevue. The company’s VP of finance Kurt Shintaffer tells GlobeSt.com the move is being made because the company’s growing space needs could not be accommodated in the Sweeney Conrad Building. Shintaffer says there was no explicit need for the company to move to Downtown. Shintaffer declined to get specific about the lease rate but did say the company will be paying “significantly less” per sf at Plaza East than at Sweeney Conrad because the Sweeney Conrad lease was signed in the spring of 2000, at the top of the market. The current full-service asking rate for space at Plaza East is about $22 per sf per year ($13.50 plus $8.35 in NNN expenses). Jeff Watson and Jason Furr of the Broderick Group represented Pacific Edge Software in the transaction. Equity was represented in-house by Sharon Johnson.

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