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University District Office Tower Breaks Ground

University District Office Tower Breaks Ground

Construction work has begun on University District Station Building, a 12-story office facility located on Brooklyn Avenue Northeast in the University District of Seattle. The 260,000-square-foot project, developed by LPC West and investment partner Intercontinental Real Estate, has been mostly preleased to the University of Washington.

New construction is welcome news for the beleaguered commercial real estate office sector, which has seen overall vacancy in Seattle climb to 20.6% according to Colliers. The Puget Sound Business Journal reports that UW has agreed to pay $61 per square foot for rent, including taxes, insurance and maintenance at the new building.

The University said the new tower will enable it to consolidate administrative functions and maintain control of that gateway to the campus. Located at the corner of Brooklyn Avenue NE and NE 43rd Street, the tower will be situated in the heart of the University District, about one mile east of Interstate 5.


Inside The Story

LPC West - University District Station BuildingIntercontinental Real Estate

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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