SEATTLE—HFF has arranged a $56.4 million construction loan for the development of NorthEdge, a to-be-built, class A office property totaling 212,000 square feet in the North Lake Union submarket of Seattle.
Working on behalf of the borrower/developer, Touchstone Corporation and AIG Global Investment Group, HFF placed the three-year construction loan with Bank of the Ozarks.
Due for completion in March 2016, NorthEdge will be a four-story office development with 208,000 square feet of office space, 4,000 square feet of retail and a two-level, 314-space subterranean parking garage. The architecture seeks to appeal to tech tenants with exposed concrete, open ceilings with heights reaching 17', and full-height glass windows overlooking Lake Union and the downtown Seattle skyline. The property is located at the southeast corner of North 34th Street and Woodlawn Avenue in the popular Fremont neighborhood of the North Lake Union submarket across Lake Union from downtown Seattle. This desirable submarket is home to companies such as Google, Adobe and Tableau Software.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
