Kirkland Central Office Building Set to Break Ground

KIRKLAND, WA-With nearly every sf of Class A space in the Kirkland sub-market already leased, TWS Development Co. expects to quickly find tenants for its Kirkland Central Office Building at 625 Fourth Avenue. The local development company will break ground on the two-story 24,300-sf office building within the next two weeks, says Pete Holloman of CB Richard Ellis in Bellevue. The Kirkland Central building is the only office space of any significance set to come on line in the near future.

The rental rate for the office space will be in the neighborhood of $32. Completion is projected for June 2001. Holloman and his fellow CBRE brokers Oscar Oliveira and Tim Owens are the property’s leasing agents. None of the space has been preleased yet, but Holloman tells GlobeSt businesses find the Kirkland central business district appealing, in part due to the absence of a business & occupation tax. “Although the market has softened some from six months ago, there’s quite a bit of demand and low vacancy rates (in Kirkland),” says Holloman.

The project is being developed on a former residential site. TWS Development, owned by Tom Singleton, is partnering with Gary Jezek on the project. The general contractor is Construction Associates Inc. of Mountlake Terrace. The project’s architect is Ruhl-Parr & Associates of Bellevue.