X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ISSAQUAH, WA-Opus Northwest LLC, a member of Minneapolis-based Opus Group, is in the midst of constructing its new five-story, 156,000-sf office building here. The shell of the Class A building should be complete in April, and ready for occupancy a few months later. Opus’ Northwest vice president Tom Parsons declined to comment on the cost of the project, but says the site was selected because of its proximity to Interstate 90. “It is the corridor de jour with the best transportation system,” says Parsons. “There’s not a lot of space available (in Issaquah), but a lot of demand.”

Leasing agent Mike Livingston of Cushman & Wakefield’s Bellevue office says the building is being “designed to accommodate high-tech tenants, with beefed up electrical and HVAC.” While no leasing agreements have been inked thus far, Livingston tells GlobeSt. negotiations are underway with a number of prospective tenants. Space is available at $24/sf net on the first four floors, and at $26/sf on the top floor.

Elsewhere on the plateau, an assisted-living facility will be built by Toledo, OH-based HCR Manor Care, on a saite originally proposed for a luxury hotel. Additionally, a 400,000-sf retail project is underway at the intersection of East Lake Sammamish and Issaquah-Fall City Road. A 500-unit condominium development also is planned nearby.

Traffic congestion on the Issaquah Plateau has been a major issue. Parsons says Opus, together with the other developers, is shelling out “substantial money for traffic signalization and road improvements.” For transportation impacts of the Eastpointe office building, Opus is spending over $1.5 million for the widening of roads and signalization. “A lot being done to enhance the traffic situation,” says Parsons.

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

Once you are an ALM digital member, you’ll receive:

  • 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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.