The building, which delivered towards the end of last year, isthe third phase of Station Place, an office complex that consistsof three buildings totaling 1.6 million square feet and has beendesigned to a LEED Silver rating.

|

A connector providing direct access will be built betweenStation Place II and Station Place III. Once the build out iscomplete, the SEC expects to move in by the end of this year.

|

Last year the property landed another large tenant--KaiserPermanente--which took 200,000 squarefeet shortly before the building delivered.

|

The American Chemistry Council, as well, inked 89,500 squarefeet in a pre-lease. The listed asking rate for space in thebuilding at the time was in the high 30s per square foot, triplenet.The SEC lease is yet another of the numerous examples ofgovernment leasing boosting the local market. In a recent report,Delta Associates noted that government leasing activity increasedto 26% of all square feet leased during 2009, compared to 14%during 2008. As a result, it said, demand for office space wascreated even as the region lost 52,900 jobs.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.