Existing Office Space Can Still Be Competitive. Here's How.
As more new construction comes to Seattle, some are concerned how the onslaught of new office space will affect the market. Will there be enough demand among tech-type companies to absorb it all? Find out at Bisnow's Seattle's Office Revolution and the Rise of the Tech Sector tomorrow at the Hyatt Olive 8 beginning at 7:30am.
Among our speakers will be Talon Private Capital senior leasing director Wende Miller, who tells us new construction in Seattle is delivering sizable contiguous blocks of office space that will attract significant leasing from large tenants that are less rate-sensitive. Talon is out to capture some of that demand for space: along with Walton Street Capital of Chicago, it acquired two-thirds of an acre in South Lake Union for more than $10M earlier this year, and plans a major office development on the site.
Still, Wende says, "older buildings that can differentiate themselves with a superior location and great tenant experience at a discount." Talon, along with partner Prudential, has a lot of experience along those lines as well, such as their recent repositioning of 8th + Olive (formerly 720 Olive Building), with two new tenant retail experiences and building amenities that have attracted the interest of multiple large tech tenants looking for immediate tenancy. Hear more from Wende and our other all-star panelists tomorrow at our Seattle's Office Revolution and the Rise of the Tech Sector at the Hyatt Olive 8 beginning at 7:30am. Sign up here.
