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Thursday, January 8, 1998 < Prev Next >

Waterfront Office Complex Draws First Tenant

Visio To Move Into World Trade Center

Visio, a Seattle-based software manufacturer, appears to be the first tenant in a new office complex under construction on the Seattle waterfront.

A company spokesman declined comment, but an announcement is expected Wednesday.

The deal marks the first lease in a development project on Bell Street between Alaskan Way and Elliott Avenue known as the World Trade Center, which includes two office buildings.

Seattle-based Wright Runstad will develop a 68,000-square-foot office building that will be owned and managed by the Port of Seattle. In addition, Wright Runstad will build a five-story parking garage on the site. The Port sold Wright Runstad the right to build a 183,000-square-foot office tower on top of the garage for $4.5 million.

Visio, now in the 520 Pike building in downtown Seattle, will move into the larger tower.

The announcement will be made during a reception at the Bell Harbor International Conference Center. Jon Runstad, chief executive of Wright Runstad, Visio Chief Executive Jeremy Jaech and Mayor Paul Schell are expected to attend.

The Port has not announced any firm tenants for its smaller office tower. Negotiations continue with several trade groups, including the Washington Council for International Trade, of which Port Commissioner Pat Davis is president; the Washington State China Relations Council; and the National Center for APEC.

The Port will rent space to trade-related organizations for

about $15 a square foot, while committing to invest about $30 a square foot in tenant improvements, said Melinda Miller, general manager of central waterfront properties.

Alex Fryer's phone message number is 206-464-8124. His e-mail address is: afry-new@seatimes.com

The Seattle Times

Source page: http://community.seattletimes.nwsource.com/archive/?date=19980108&slug=2727592