Vulcan has announced today that it will lease the $246 Million, 384,000 square foot space known as the Arbor Blocks to Facebook. The project will consist of two six-story midrise buildings with office space as well as street level retail opportunities.
According to The Registry, the Seattle based Vulcan Real Estate directs all real-estate investments for Vulcan Inc, which is a Paul G. Allen Company. Since 2000, Vulcan Real Estate has delivered 2.9 Billion in assets in thirty-two projects comprising 7.9 million square feet and 1,555 residential units. Eighty percent of these development projects have been centered in the South Lake Union Area, known for it’s recent tech industry boom.
To read more about the Seattle’s tech boom driving real estate prices, click here.
Construction for the Arbor Blocks is planned to begin by the year-end 2016.
To learn more, please visit: The Registry | Vulcan Leases 384,000 SQ FT to Facebook in South Lake Union