SEATTLE-Stone34, a mixed-use office and retail project here, will begin construction during this quarter. Skanska USA Commercial Development is self-financing the project, the first commercial development by its Seattle office, and is expected to invest $51 million in its construction. The building is expected to be completed by mid-year 2014.
Set to be located at 3400 Stone Way, the property includes 129,000 square feet of office and retail within five stories, anchored by Brooks Sports Inc. The tenant is leasing 114,000 square feet of the building to house its new world headquarters.
Stone34 is designed to include 8,500 square feet of outdoor pedestrian areas and is situated next to Seattle’s most-used urban trail, the Burke-Gilman. The project is expected to be an urban trailhead that will encourage community connection and civic interaction. In addition, the building is part of Seattle’s Deep Green Pilot Program, which requires water and energy use to be reduced by more than 75% of comparable buildings.
According to Lisa Picard, EVP of Skanska’s Seattle office, “The building is designed to be a vibrant place to work in one of the most efficient commercial-office buildings in the country. We worked closely with Brooks to understand their needs, creating new design and leasing solutions that allow them to connect more deeply with runners.”
Skanska also worked with the surrounding communities and the Seattle City Council to adopt legislative changes that would make the project possible. Stone34 is pre-certified LEED Platinum and includes technology and features that allow real-time monitoring of employee use, hydronic heating and cooling systems, storm-water capture and reuse and a building design to increase day-lighting and reduce summer heat loads. The project also applied new bicycle commuting criteria by Cascade Cycling to create a property that entices workers to use all forms of active transportation.
As GlobeSt.com previously reported, in November Forest City Ratner Cos. and Skanska USA formed a new company, FC + Skanska Modular LLC, that will fabricate the modular components for the first residential building to go up in the $4.9-billion Atlantic Yards development in Downtown Brooklyn, NY. The 32-story apartment tower reportedly will be the tallest modular structure in the US to date.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
