Swedish Constructor and Developer Now Has Three Projects Going in Puget Sound Market
Construction and development company Skanska AB is investing $150 million in a 333,681-square-foot office building
in the South Lake Union area of Seattle, WA.
Global retailer and lifestyle brand Tommy Bahama is the first tenant and will occupy 118,403 square feet of the building, called 400 Fairway. Skanska is also building a headquarters building in Wallingford for Brooks Sports.
Skanska's USA Building unit will begin construction of the 13-story project with ground-level retail stores at a contract value of $77.5 million, which will be included in order bookings for the fourth quarter of 2013.
The project will start this month and target a minimum of LEED Gold certification. It is slated for completion in the fourth quarter 2015.
Sweden-based Skanska also said last week it has signed a $54 million joint venture contract to build Alley 111, a 12-story apartment building at 11011 N.E. Ninth St. in Bellevue, WA
The agreement on the multifamily property between Skanska USA Commercial Development and an unidentified partner is its first U.S. joint venture.