F5 Networks Taking Loss on Sublease of New Office

SEATTLE-The online social networking company Classmates Online Inc. recently agreed to sublease 58,000 sf in a new office building at 333 Elliott Ave. from F5 Networks. Classmates will relocate its headquarters to the building in early 2009 from Renton, a suburb immediately south of Seattle where the company has called home since 1995.

The 138,000-sf six-story building with views of Elliott Bay was developed by Selig Real Estate Holdings XXV, an entity of Martin Selig Real Estate, at a cost of $25 million after F5 Networks preleased the entire building in October 2006. The lease was meant to provide expansion space for F5, whose three corporate headquarters buildings are located adjacent to 333 Elliott.