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Swedish Leases Half of Metro Park Vacancy

SEATTLE-The nonprofit healthcare provider leases 60,000 sf of office space in the Metropolitan Park office building here that will allow it to move certain administrative functions off campus and use the recaptured space for clinical operations.

By Brian K. Miller | Updated on February 07, 2005

SEATTLE-Swedish Medical Center has leased approximately 60,000 sf of space at Metropolitan Park, a 364,000-sf office building here that is located several blocks away from its campus on First Hill. The long-term lease soaks up half of the vacancy in the Benaroya Co.-owned building.Swedish will begin occupying the space at the start of May. It will utilize the space for non-clinical administrative staff now housed on the campus. “Specifically, we’ve been looking at relocating the HR and finance divisions,” says Darren Redick, Swedish’s vice president of Facilities. “Office buildings are a more effective solution for administrative functions than hospital properties and the Met Park site is a very convenient location for us.”The medical campus covers several blocks, many of which front along Madison and Boren streets. The 20-story Metropolitan Park building is located less than one-half mile away, one block off Boren Street. The space Swedish will occupy was most recently occupied by the Fred Hutchison Cancer Research Center.Metropolitan Park had 116,000 sf of vacancy prior to the Swedish lease. The negotiated lease rate was not immediately available. The full service asking lease rate for the space was $23.50 per sf per year. Ray Attisha of Trammell Crow Co. represented Swedish.Swedish Medical Center is one of the largest nonprofit health providers in the Pacific Northwest. It has three hospital campuses (First Hill, Providence and Ballard), Swedish Home Care Services and Swedish Physicians–a network of 11 primary-care clinics. In March, Swedish will open a new freestanding emergency room and specialty center in Issaquah, and has applied for a state “Certificate of Need” that would allow it to develop a full-fledged hospital in Issaquah in future years.

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