Working with the local tenant rep firm Flinn Ferguson, the group has narrowed its choices from six to three and currently has architects planning each of the potential locations. Two of the locations would be new development.

One of the new development locations is Opus Northwest's M Street Medical Building, a four-story 41,000-sf building that is under construction at 8th Avenue and Madison Street. The building is slated for completion next year.

The other new development location is the top two floors of a seven-story Orthopedic institute Swedish Medical Center is planning to build on its First Hill campus, which largely fills a 10-block area immediately east of the intersection of Madison Street and Boren Avenue. A source at Swedish tells GlobeSt.com it could have final board approval for the project this month and have the building ready for occupancy in the early part of 2008.

The third option OPA is considering is Sabey Corp.'s James Tower Life Science Building, a renovated 1910 building on Swedish's smaller Providence campus at 17th Avenue and Jefferson Street, about one-half mile east of its First Hill campus.

Orthopedic Physician Associates treats a wide range of bone, joint and muscle problem conditions. The privately held practice employs 18 physicians who perform between 450 and 500 surgeries a month, with a majority of those being out-patient procedures outside of Swedish's network of operating rooms but also on First Hill. It also provides a number of other related medical services for sports teams and individual patients.

If it chooses James Tower, its 40,000 sf would be on a single floor. It would need two floors in Swedish's proposed building, but it would be on Swedish's main campus, atop of a brand new orthopedic institute. If it chooses Opus Northwest's project, it would occupy the entire building, giving it more of a headquarters feel, and still be only two blocks west of Swedish's First Hill campus. Regardless of which location it chooses, it will be paying a gross rate in the low to mid $40s per sf.

OPA is currently housed in three of the other known medical office options in the area, Equity Office Properties' Nordstrom Medical Tower at 12th Avenue and Madison Street, where it has been located for 21 years; Sabey Corp.'s Jefferson Tower, on Swedish's Providence campus; and 1101 Madison, a former Swedish-owned building acquired by publicly traded Health Care Property Investors at the end of 2004. Neither property has enough contiguous space available to house OPA's consolidated operations.

Eric Blohm of Flinn Ferguson tells GlobeSt.com that the company is looking to secure a location in the near term but won't be relocating any sooner than 18 months from now. By that time, Opus' project should be complete and, in the best case scenario, Swedish's project would be about six months out. Sabey's James Tower, meanwhile, is standing at the ready with 150,000 sf of contiguous availability on the first six floors.

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