Project will include two office buildings totaling 384,000 square feet
SEATTLE – December 2, 2016 – Vulcan, Inc. today announced that it has pre-leased its $246 million Arbor Blocks project to Facebook. The project will consist of two 6-story midrise office buildings with 384,000 square feet of office space and 4,100 square feet of street-level retail along 8th Avenue North, between Thomas and Harrison Streets.
“We’re excited to work with Facebook to help them expand their footprint in South Lake Union,” said Ada M. Healey, vice president of Real Estate at Vulcan, Inc., “We designed the Arbor Blocks with technology tenants in mind and Facebook is an ideal tenant to kick-off the project.”
The buildings, designed by Graphite Design Group, feature increased setbacks to preserve light and air for the existing sweet gum tree canopy along 8th avenue North. The street will be converted into a pedestrian-friendly woonerf with a specialty paving pattern and widened sidewalks. Plantings, seating and artwork will be added to enhance the street-level experience.
As part of Vulcan’s commitment to sustainable development practices that promote the social and economic health of the greater community, the new buildings will be targeting LEED Gold and Salmon-Safe certification.
Construction on the new buildings will begin by year-end 2016.
Hewitt is the landscape architect and Lease Crutcher Lewis is the general contractor.
About Vulcan Real Estate
Seattle-based Vulcan Real Estate directs all real-estate investment activities for Vulcan Inc, a Paul G. Allen Company. Through strategic acquisitions and innovative development, Vulcan Real Estate has created a diversified portfolio of high-performing quality assets including office, life sciences, residential and mixed-use projects.
The company’s integrated team of real estate professionals offers a full range of development and portfolio management services from site selection and urban planning to build-to-suit construction, leasing, financing and asset repositioning. Its real estate model is based on quality, sustainable development that builds new value across the entire community.
Since 2000, Vulcan Real Estate has delivered $2.9 billion in assets in 32 projects comprising 7.9 million square feet and 1,555 residential units. Eighty percent of the development projects have occurred in South Lake Union, renowned as one of the largest urban redevelopment projects in the country. The company also has a near-term development pipeline of 13 projects, including 2.6 million square feet and 1,870 residential units.