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242,758-SF Office Lease Extends, Expands Boeing at Renton Place

RENTON, WA-The aircraft manufacturer signs a new lease for all but the fifth floor of Three Renton Place and extends its lease of Two Renton for second time. The deal instantly drops vacancy in the 400,000-sf three-building complex to around 10%.

By Brian K. Miller | Updated on December 20, 2005

RENTON, WA-The Boeing Co. has taken down a second office building at HAL Real Estate Investments’ three-building Renton Place property and extended its lease for its first building. Combined, the 242,758-sf of lease agreements is one of the largest office leases of the year in the Puget Sound region. Concurrent with the lease, HAL renamed the development Triton Towers and changed the name of One, Two and Three Renton Place to Triton Tower One, Two and Three.

Boeing currently occupies all of the 130,690-sf Triton Tower Two building. In August 2004, it extended its lease for the building, which was to expire this past May, through 2007. This latest extension pushes the lease expiration for that building to 2010 and makes it co-terminus with the new 112,068-sf lease in Triton Tower Three.

The Triton Tower Three lease covers all but the fifth floor of the seven-story building. Geoff Pendergast, who handles leasing for the complex with fellow CBRE broker Ed Hogan, tells GlobeSt.com that Boeing eschewed the fifth floor because there is another tenant on half the floor and Boeing didn’t want to be on an un-secure floor. However, Boeing did negotiate a right of first refusal for the floor when it again becomes wholly available, he says.

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