X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

VANCOUVER, WA-A new office building adjacent to the Heathman Lodge here is leasing up nicely. Completed last month, the 50,000-sf Parkway Plaza IV building is more than 50% leased, according to the leasing agent for the property. Rich Sabel of SB Richard Ellis tells GlobeSt.com that Prestige Care has leased the 17,178-sf top floor while National City Mortgage and Vancouver Insurance have signed on for 6,170 sf and 2,015 sf, respectively, on the first floor. National City Mortgage committed to 6.5 years, National City Mortgage to five years and Vancouver Insurance three years. The negotiated lease rate isn’t being revealed by the parties involved. The asking lease rate for the property is $21.50 per sf per year, full service, including a standard $25 per sf tenant improvement allowance. Generally speaking, market concessions have included above-standard tenant improvements and some free rent, according to local brokers. Prestige Care, which provides senior care to assisting living communities on the West Coast, is relocating and expanding from 502 SE Columbia Shores Blvd., also in Vancouver. National City Mortgage also is expanding, from 7710 NE Vancouver Mall Dr.The owner of Parkway Plaza IV is the Gold Metal Group, a company led by local developer Dennis Pavlina. Gold Metal Group owns another office building one block from this one and develops apartment buildings and single-family homes. Sabel says leasing activity has been very strong “and it looks like it will continue through the balance of the year.”

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
  • 1 free article* every 30 days across the ALM subscription network
  • 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 © 2021 ALM Media Properties, LLC. All Rights Reserved.