Trammell Crow Co., alongside its partner Washington Capital Management, announced the opening of Boren Lofts, a core-free life science development in downtown Seattle.
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The partnership began work on the project in August 2019, tapping Howard S. Wright as general contractor, while LMN Architects designed the property specifically for life science tenants. CBRE’s Scotta Ashcraft and Nick Carkonen are handling leasing activities for Boren Lofts.
Located at 1930 Boren Ave., the 10-story life science development offers 136,217 square feet of Class A space in Seattle’s Denny Triangle neighborhood. Boren Lofts’ design utilizes a side-mounted building core, which allows for unobstructed floorplates, whereas others typically have elevator cores in the building’s center. The property offers floorplates that average 15,000 square feet and can accommodate up to three tenants per floor. The development was also built with 12-foot windows and 15-foot floor-to-floor heights with outdoor patios on all floors, a rooftop terrace, UV air filtration system and thermal temperature security check-in.
Alan Cantlin, Trammell Crow’s senior vice president, said in prepared remarks that the open-plan spaces at Boren Lofts is ideal for life science companies that need flexibility to plan office and lab spaces.
Demand in Denny Triangle
Trammell Crow is in talks with several life science companies that could potentially lease approximately 30 percent of the building. Cantlin told CPE that demand for life science space in downtown Seattle has been strong and has increased since the onset of the COVID-19 pandemic. Cantlin also told CPE that the surge in demand is likely caused by more capital coming into the sector from private and public sources.
The Denny Triangle neighborhood where Boren Lofts is located in is also seeing sustained activity in its office sector. The submarket has 2.4 million square feet of projects under construction as of June 2020, including Amazon’s 888,049-square-foot office project and Onni Group’s 896,890-square-foot mixed-use project. Denny Triangle has also recently saw one of its trophy office towers at 1918 8th Ave. change hands for $625 million.