First Tenant Inks Deal For Corporate Campus

LYNNWOOD, WA-Opus Northwest LLC has found its first tenant for its Opus Northpointe Corporate Campus, a 90-acre project housed in the heart of the technology corridor at the confluence of the region’s two major freeways, Interstate 5 and Interstate 405.

Cypress Semiconductor Corp. of San Jose, CA leased and signed an option to buy a planned 66,528-sf building in the complex. The company will move its 150 employees in the Puget Sound region to the building from its existing locations in Woodinville and Bothell. Terms of the deal were not disclosed.

The developers say they also have begun the grading for the Cypress structure, known as Building D, and for the rest of the proposed nine-building, 719,000-sf campus. Opus will also install infrastructure throughout the complex, including utilities, roads, sidewalks and street lighting.

Campus amenities include more than 40 acres of open space, covered parking options, building floor plates from 20,000 to 50,000 SF and fibre optic, microwave and multiple provider communication capabilities.

Located at the southern tip of the campus, the Cypress building is slated for occupancy in November 2002. In addition to that building, Opus intends to construct a speculative, 60,000-square-foot building on the west side of the campus.

Cushman & Wakefield brokered the Cypress deal. Northpointe was represented by a Cushman team of Gary Bullington, Tom Bohman and Garth Olsen. Cypress Semiconductor was represented by Buillington and Brian Toy.