SEATTLE—In what CBRE describes as a momentum carry-over from 2012, the company has executed two office leases totaling 75,000 SF for new tenants at 705 Union Station. CBRE says clients Avvo (25,000 SF) and Intel (50,000 SF) both companies are expanding their regional footprints when their move-ins are complete. CBRE’s Jesse Ottele says the new tenancy puts occupancy at 76% in the 258,000-SF, 11-story building.
“A Class A building in an excellent location becomes a magnet for quality tenants,” stated Ottele. “The activity produced 150,000 square feet of new leases in the second half of 2012. We’re excited to have Avvo and Intel move into 705, and we anticipate more tenants wanting to locate here in 2013,” he added.
Situated between 4th Avenue and 5th Avenue South and South Dearborn Street, 705 Union Station’s Class A features include unobstructed views of Mount Rainier, the Seattle CBD skyline, the stadiums and Puget Sound. Positioned in the heart of the International/ Stadium District, the central location places the building at the nexus of Seattle’s transportation hub. Numerous restaurants and shops are nearby, and 705 Union Station is steps away from CenturyLink Field and Safeco Field. The building’s flexible floor plates are approximately 25,000 SF. PCCP and Principal Real Estate Investors acquired the property in May 2011.
CBRE Group, Inc. (NYSE:CBG), headquartered in Los Angeles, is the world’s largest commercial real estate services firm.