Dexter Station Office Project Seattle, Washington

 

Background

In 2006, Capstone Partners purchased 2 acres of land in Seattle’s fast growing Lake Union market. Capstone also secured purchase agreements for an additional acre of land surrounding the site and began design and entitlement work for a 345,000 square foot office / life science building. In the winter of 2007, Capstone formed a partnership with Stockbridge Real Estate Funds, a California pension fund advisor, to develop the project. The partnership has entitlements and permits in hand and will break ground with either an anchor tenant or at a time when speculative construction is warranted. Project details can be reviewed at www.dexterstation.com.

Capstone Partners retains approximately an acre and half of land for future development which can support up to 280 units of housing or 250,000 square feet of additional office / life science space.

Result

  • Dexter Station is designed to accommodate the needs of large technology and life science users.
  • 60% of the space has exceptional views of Lake Union, the City of Seattle, and gas Works Park.
  • Large floor plates create efficiency for large work groups.
  • Additional power, floor by floor mechanical systems, higher floor to
    floor heights, and increased load allowances enable extensive user flexibility.
  • Light wells, green roofs, and over 3,000 square feet of roof decks
    enhances the tenant experience.
  • Design and entitlements are nearly complete allowing for construction to commence in late 2008.

Strategic Project Partners

Architect – LMN Architects
Civil Engineer – Coughlin Porter Lundeen
General Contractor – JTM Construction
Marketing Firm – Pacific Real Estate Partners

Project Statistics

  • Total Rentable SF 345,000 SF
  • Target Silver LEED
  • 1.25/1000 car parking
  • .35/1000 bike parking
  • 6,000 SF: Great room and common area, conference rooms and athletic facility
  • 7 roof decks
  • Unobstructed views of Lake Union, downtown Seattle and Gas Works Park