When CableLabs, which is owned by all of the major cable TV companies, first started looking for space in 2000, the northwest corridor was the tightest office market in the metro area.
What a difference three years makes.
Marc Lunde, principal of CRESA Partners, the tenant rep firm that represented CableLabs, was able to come up with 14 empty buildings for his needs, as well as about a half dozen others. Today, it has by far the largest vacancy rate, although it also is improving faster on a percentage basis.
Lunde says leases, on average, have fallen 25% to 30% since they first started looking. In addition, CableLabs received a very generous tenant improvement from the landlord, says Christopher Lammers, EVP and COO of the organization.
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