TACOMA, WA-With KeyBank district headquarters now next door, the 16-story KeyTower at 1119 Pacific Avenue has been freed up for use as high-tech office space.

Tacoma developers Herb Simon and Ted Johnson paid $5.8 million for the building last summer, and have been preparing the building for lease to dot-com companies. They predict healthy leasing activity because the space will be much less expensive than Seattle, and because it is wired for broadband access thanks to a city-funded effort to criss-cross the city with fiber optic cables.

Next door, KeyBank believes that trading in its tall narrow building for a wider four-story structure it already owns offers a more 21st century approach for customers. Rather than being dominated by a row of teller windows, customers entering the newly remodeled facility will step into a rounded lobby segmented into four areas, including a large commercial area, a new accounts area, an individual transactions area, and an area with four teller windows.

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