2+U 2+U is a 38-story686,000-square-foot class-A office tower in Seattle's CBD.

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SEATTLE—After topping off last month, 2+U now has its first tenant. Indeed will lease approximately 200,000 squarefeet on 10 contiguous floors in the 38-story 686,000-square-footclass-A office tower.

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Skanska is developing the project in one of the most desired locations in the central business district with aslated completion of July 2019.

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“It's essentially a Main and Main address for Seattle, nearPike's Place market,” Murphy McCullough, executive vice presidentand head of commercial development operations in the GreaterSeattle region for Skanska, tells GlobeSt.com. “There is no otherland like it in Seattle. We wish there was because we would buyit.”

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Located at the corner of Second Avenue and University Street,the building is adjacent to Seattle Art Museum and Benaroya Hall,and just steps from the new waterfront. The first office spacestarts at level seven. On the floors below, there is room for artsand cultural space. In fact, the building will include space forrent to artists, in addition to multiple tenant conference andevent spaces.

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2+U is lifted 85 feet off the ground at the highest point tocreate an outdoor urban village situated under the building. Theurban village includes nearly a half-acre of open space designedfor gathering and connecting tenants, neighbors and visitors withnearly 17,000 square feet of local retail, and arts and culturalspace.

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The building will have 18,000- to 30,000-square-foot floorplateswith an offset core, providing flexible and versatile floorplates.And, a private tenant rooftop deck will have unobstructed views ofthe Puget Sound and Olympic Mountains.

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There will be direct commuter access from the highway or topublic transportation, including bus, light rail and ferries, alongwith parking, valet service and EV charging stations, and a bikeprogram with secure storage for approximate 360 bikes, along withEV bike charging stations and repair stations.

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Tenants will have access to fitness and wellness space includingshower and sauna facilities. The building will have high-touchconcierge-style property management and digital interface.

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Skanska engaged community stakeholders in the planning stages ofthe project to create a building that adds immediate value to thetenants and the surrounding community. Through its thoughtfuldesign, 2+U becomes a connection linking the new waterfront,Pioneer Square and surrounding downtown neighborhoods.

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“We are honored to welcome worldwide industry leader Indeed asthe first tenant at 2+U. With this lease, our original vision forthe project, to create an office and retail experience that isattractive to a diverse mix of tenants and business sectors, is nowa reality. Indeed is exactly the type of tenant we imagined wouldmake the most of what 2+U offers, from the urban retail village tothe outstanding views,” said McCullough. “The experience we createdat 2+U will help Indeed attract and retain top talent in thishighly competitive market.”

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There are nine major speculative office projects underway in theregion, according to Kidder Mathews' third quarter office report.Six are in Seattle and collectively contain 2.5 million squarefeet. Of this amount, 871,022 square feet or 35%, ispre-leased.

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Some of the more notable Seattle construction projects inaddition to the 2+U are Kilroy's 333 Dexter Building at 638,817square feet and the 58-story Rainier Square building at 722,000square feet being built by Wright Runstad (fully pre-leased byAmazon). In the Eastside market, the speculative Kirkland Urbanproject of 660,000 square feet is 34% pre-leased with theuncommitted space receiving strong attention.

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The Spring District Block 16 project in Bellevue at 327,570square feet is also underway. The only other major speculativeproject outside of the Seattle and Eastside markets is the688,147-square-foot Southport Office Campus in Renton. For theregion as a whole, the 13 major office buildings under constructionin the region collectively will add slightly more than 6.6 millionsquare feet of new office supply. Of this amount, 53% had beenpre-leased as of third quarter, says Kidder Mathews.

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.