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Commercial Real Estate News Signs for 460,000 SF in Seattle

Schnitzer Investment's Downtown Office Tower Reaches 94% Occupancy
March 7, 2011
Online retailer leased approximately 460,000 square feet at the 1918 Eighth Ave. building in downtown Seattle.

Schnitzer Investment Corp. owns the 668,000-square-foot, 36-story office tower in the Denny Triangle/Lake Union neighborhood. Built in 2009, the NBBJ-designed property was awarded LEED Gold Core & Shell certification from the U.S. Green Building Council. Each floor averages 20,000 square feet.

Other tenants include RBC Wealth Management with 34,000 square feet, Parametric Portfolio Associates at 38,300 square feet and Hagens Berman Sobol Shapiro LLP in 19,100 square feet, according to CoStar Group information. The average asking rent per year is nearly $30 per square foot. With the deal the property is now 94 percent leased.

Schnitzer West LLC is the leasing manager. is currently building phase four of its headquarters at 333-345 Boren Ave. N in the Lake Union submarket of Seattle. When construction is completed, the locally based e-commerce company will occupy 1.63 million square feet at the location.
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