Ater Wynne has been headquartered in the KOIN Center tower at222 SW Columbia St. since 1985, occupying the top three floors ofoffice space in the 35-story building, which is topped with 16floors of residential condominiums. Covering a full block boundedby Northwest 13th and 14th avenues and Lovejoy and Marshallstreets, the Lovejoy is a 120,000-sf office and retail buildingdesigned to achieve LEED Silver certification from the US GreenBuilding Council. Ater Wynn expects to make its move inDecember.

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In making the move, Ater Wynne is decreasing its headquartersleasehold by about one-third. Company principal Jonathan Ater tellsGlobeSt.com that a significant portion of the shrinkage is a resultof the efficiency offered by the larger floor plate and open floorplan of the Lovejoy space. Another piece of it is a result of theflexibility it negotiated into its Lovejoy lease, which gives thelaw firm the right to expand onto a portion of the 8th floor andthe right of first refusal on additional space in the building.

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"We are in very traditional office space with a lot of privatespaces that aren't the way people work anymore," Ater says. "Withthe Lovejoy's larger, more open floor plates, we can lay out a verydifferent, very creative, much more efficient kind of workplace.It's not going to look like your Downtown law firm."

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Located next to the city's streetcar line, the Lovejoy will betopped with a green roof and anchored by a 40,000-sf, two-storySafeway. In between the grocery store and the office space is fourlevels of parking, resulting in significant views for the officespace. Other amenities include a garden terrace on the seventhfloor, tall windows for natural daylight and bicycle parking. Whenthe building is completed it will become a commercial condominium,Pearce says, with Ames and Solheim the first two floors and some ofthe parking and Unico will own some of the parking and the officespace.

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The Ater Wynne lease leaves two full floors of office space tobe leased, or about 55,000 sf. The asking triple-net lease rate is$27 per sf per year. Operating expenses would add about $8.50 persf per year to the occupancy cost. Unico's local executive BrianPearce tells GlobeSt.com that lease currently under negotiationwould fill another 15,000 sf of office space. Ater Wynn has theright of first refusal for additional office space in the building,says Pearce, who declined comment on the value of the lease.

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Next to the Lovejoy Unico is developing a 16-storyresidential-over-retail building that will have 231 apartmentsabove 20,000 sf of retail. Construction of the building is up tothe 15th floor. Unico's multifamily executive Greg Van Patten tellsGlobeSt.com the building will top out in mid-March, with earlyoccupancy scheduled for September and final completion in December.The anchor retail tenant there is a 5,500-sf Bank of America branchthat will face the main entrance to the Safeway. Apartment rentswill be approximately $2.25 per sf.

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"When we were planning the project in 2004, we'd tell colleagueswe were doing this rental project and they were almost incredulous[because] the condo market was going gangbusters," Van Patten says."But we could see all the apartment-to-condo conversions and thelack of new rental supply and the job growth and the increasingdesirability of living in the city, particularly in the Pearl, andall those signs pointed to rental."

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Buzz Ellis and Mark Friel of Pacific Real Estate Partnersrepresented Unico in its lease negotiation with Ater Wynne. CraigReinhart and Dave Reinhart of CRESA Partners represented AterWynne.

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