Situated next to the Meydenbauer Convention Center in Bellevue'sCBD, the six-acre Bravern development includes 750,000 sf of officespace in two high-rise office towers, which have been fullypreleased; 305,000 sf of luxury retail space, 125,000 sf of whichwill become a Neiman Marcus store; and two 29-story residentialtowers containing 456 for-sale apartments. The office building willbe delivered in mid-2008; the remainder of the development isscheduled for delivery between then and the end of 2009.

Investcorp says that per the JV agreement it will provide amajority of the project equity while Schnitzer West will providemost of the remaining necessary equity and oversee the completionof the project. Construction financing is being provided by HSHNordbank. The retail leasing assignment is in the hands of CreativeRetail Leasing LLC and GVA Kidder Matthews. The Broderick Group hadthe leasing assignment for the office, which was fullyprelesed by Microsoft back in April.

Schnitzer West was known as Schnitzer Northwest until May, whenthe company changedits name to reflect its broadening geographic focus. AsSchnitzer Northwest, the company developed and acquired some threemillion sf of office, condominium, retail and industrial spaceprimarily in the Puget Sound region. As Schnitzer West, the companynow also will be looking for opportunities in Denver, Los Angelesand San Francisco.