Merrill Lynch Commits to Top Four Floors of 23-story 'Nordstrom Building'

SEATTLE, WA-Merrill Lynch & Co. is taking the top four floors of the 23-story 1700 Seventh Avenue building, leaving only two floors to be leased in the 545,333-sf building as it heads for a grand opening this summer. Nordstrom, a partner in the project with Clise Properties Inc., is occupying most of the rest of the building.

Merrill Lynch will reportedly fill its 56,000-sf of space in the “Nordstrom building” with its Howard Johnson actuarial division, which is now located in 14,000 sf of the Washington Mutual Tower at 1201 Third Avenue, and in 55,000 sf in the Second and Seneca Building. Merrill Lynch sources were unavailable Monday to confirm that in addition to the new space, it plans to maintain its WaMu office and 22,000 sf in Second and Seneca.

1700 Seventh is a joint venture between upscale national retailer Nordstrom and Clise Properties Inc., a property management and real-estate development company. Both companies are headquartered here. Clise is said to have a 51% controlling interest. Nordstrom’s new headquarters will occupy 400,000 sf of the tower. Though an exact development cost was not available, local sources peg the project in the vicinity of $100 million.