AT&T Wireless to Set to Buy Technology Park from Schnitzer Northwest

BOTHELL, WA-AT&T Wireless Group has plans to buy three of the four buildings at the Northcreek Technology Campus III from Schnitzer Northwest LLC, a subsidiary of Portland-based Schnitzer Investment Corporation. Reports estimate the communications company will pay as much as $70 million for the properties in a deal expected to close by the end of this year.

AT&T Wireless has had an option to purchase the buildings since it signed leases there in June for 417,000 sf. It continues to lease 120,000 sf in the fourth building of a six-building technology campus, which contains a total of 1.5 million sf. AT&T Wireless officials have indicated the company is seeking additional space in the area to accommodate further anticipated growth.

Schnitzer acquired the Koll North Creek property in October 1998, which, at the time, included 273,000 sf in nine buildings and more than 60 acres suitable for development. The Northcreek Technology Campus III is the third phase of development Schnitzer has undertaken in the business park since.