With 7.5 million sf of Seattle office properties already in its pocket, EOP's portfolio here following the merger will top 10 million sf. The majority of Spieker's Puget Sound office properties are situated in the Eastside city of Bellevue, the largest of which is the 473,095-sf Bellefield Office Park at 1105 – 114th Ave. SE. Other than Bellevue, the portfolio has one property in Bothell, the 204,842-sf North Creek Parkway Center. Spieker also holds the 268,347-sf two-building complex of Southgate Office Plaza on Linden Ave. in Renton.

At present, Spieker owns three office properties in Federal Way. However, as recently reported by GlobeSt, those buildings (with an aggregate 198,134 sf of office space and a 110,000 buildable lot) have been placed for sale and are available individually or as part of a $16 million package deal.

Spieker has also been engaged in the process of permitting its proposed 550,000-sf 24story office tower on NE 8th St. and 108th Avenue NE. Last August, Spieker paid $15.9 million for the site and subsequently stated it expected to break ground on that development in 2001. The total development cost has been pegged at $149 million.

Scattered throughout Puget Sound, Spieker also owns just over 1.4 million sf of industrial space, including the 240,502-sf Woodinville Corporate Center on Woodinville-Redmond Road.

Just last month, Equity Office Properties opened its first office in Seattle, relocating Pat Callahan from Denver to oversee its portfolio locally, in conjunction with the Seattle-based property management firm of Wright Runstad & Company.

Instant Insights /

Equity/Spieker Merger Includes Millions of Square Feet in the Puget Sound

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