Davis Wright Tremaine Renews 76,000-SF Lease

Fellman declined to reveal the negotiated lease rate on the transaction. The asking rate is in the low-to-mid $20s per sf, however, and local brokers familiar with the property estimate that Davis Wright Tremaine likely will be paying an average rate in the mid-$20s per sf. Neither the law firm nor its brokers, Mark Carnese and Tom Usher of Cushman & Wakefield, could be reached for comment.DWT has been a tenant in the building for close to 15 years, first signing-on with the building back in 1989 for approximately 40,000 sf, and adding space over the next 10 years. The firm's current lease at Wells Fargo Center (1300 SW Fifth Ave.) was set to expire in 2005. Other major tenants in the building include: Wells Fargo Bank, Price Waterhouse and KPMG.