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C&W Lands One Convention Place Leasing Assignment

SEATTLE-The 309,400-sf, class A Downtown office building is 90% leased, but the building was completed in 2000, which means some leases will be rolling over during the next 18 months.

By Brian K. Miller | Updated on August 09, 2005

SEATTLE-DB Rreef has tapped Cushman & Wakefield to manage the leasing efforts for One Convention Place, a 309,400-sf class A office building located Downtown. The building is 90% leased but some leases are expiring in the next 18 months because the building is coming up on its five-year anniversary.Located at 701 Pike St., the 16-story building sits atop a six-story base that houses the Washington State Convention & Trade Center expansion and two mechanical floors. The three largest tenants in the building are Brown & Caldwell, Inc. (31,000 sf), Guy Carpenter & Co. (45,000 sf) and Lee Smart Cook Martin & Patterson (35,000). On the retail side, the building is anchored by the Cheesecake Factory.C&W senior leasing director Scotta Ashcraft tells GlobeSt.com that many of the anchor tenants were enticed to sign 10-year leases by giving them a right to terminate after five years, “which means a handful of large tenants may terminate their leases,” she says. Depending on whether those options are exercised, Ashcraft says anywhere from 20,000 sf to 70,000 sf could become available in the next 18 months. Completed in 2000, One Convention Place became the first new office tower in Seattle’s central business district since Wright Runstad & Co. completed the 22-story, 422,000-sf Second & Seneca Building in 1991. This is C&W’s first CBD listing with DB Rreef, says Ashcraft.

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