{"id":1004603232,"date":"2022-09-19T09:28:09","date_gmt":"2022-09-19T17:28:09","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004603232"},"modified":"2022-12-08T23:24:57","modified_gmt":"2022-12-09T07:24:57","slug":"lpc-west-intercontinental-to-develop-seattle-life-science-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lpc-west-intercontinental-to-develop-seattle-life-science-building\/","title":{"rendered":"LPC West, Intercontinental to Develop Seattle Life Science Building"},"content":{"rendered":"
\"\"<\/a>

Image by Pexels via Pixabay.com<\/p><\/div>\n

LPC West<\/strong> and Intercontinental Real Estate Corp<\/strong>. are adding another life science building to their Seattle office portfolio. The partnership has closed on a property that will be developed into a nine-story office building with spaces primarily aimed at life science tenants.<\/p>\n

The Class A building is still in the early design stages but is expected to offer approximately 195,000 square feet. The project is located near the intersection of Fifth Avenue and John Street, putting it within walking distance to the Space Needle, Climate Pledge Arena and the Seattle Children\u2019s Museum. The life science property will also have nearby access to the Seattle Center Monorail, Metro Transit lines and Highway 99.<\/p>\n

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READ ALSO<\/strong>: Top Markets for Office Transactions in H1 2022<\/a><\/p>\n

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The project\u2019s location in the mixed-use South Lake Union neighborhood puts it near other major corporate offices like the Bill & Melinda Gates Foundation<\/strong> and Amazon<\/strong>. The area has also attracted tenants from the health, tech and research sectors, including Seattle Children\u2019s Hospital and the Fred Hutchinson Cancer Research Center.<\/p>\n

Jessica Levin, senior director of acquisitions for Intercontinental, said in prepared remarks that this development will be a long-term investment for the company\u2019s portfolio. She added in her prepared statement that Seattle has strong life science fundamentals, and the area is seeing a combination of funding, growth and talent.<\/p>\n

LPC West\u2019s growing life science portfolio<\/h2>\n

Prior to this upcoming project at Fifth Avenue and John Street, the two companies previously broke ground on an adjacent life science building. LPC West and Intercontinental started construction at 222 Fifth Ave<\/a>. in June and are expecting to complete the life science development in early 2024.<\/p>\n

To date, LPC West has been a part of more than 4.5 million square feet of transactions across all major life science markets in western U.S. Last year, the company acquired a 240,904-square-foot office campus in Pasadena, Calif., in a partnership with Angelo Gordon<\/strong>. The partners are renovating the Pasadena property<\/a> to accommodate life science tenants.<\/p>\n","protected":false},"excerpt":{"rendered":"

A nine-story building will soon rise in the booming South Lake Union neighborhood.<\/p>\n","protected":false},"author":883,"featured_media":1004207055,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21754,21742,21747,1610,15],"tags":[32962,34331],"class_list":["post-1004603232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-medical-office","category-latest","category-office","category-seattle","category-west","tag-intercontinental-real-estate-corporation","tag-lpc-west"],"acf":[],"yoast_head":"\nLPC West, Intercontinental to Develop Seattle Life Science Building - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"LPC West and Intercontinental Real Estate Corp. are adding another life science building to their Seattle office portfolio.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/lpc-west-intercontinental-to-develop-seattle-life-science-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LPC West, Intercontinental to Develop Seattle Life Science Building\" \/>\n<meta property=\"og:description\" content=\"LPC West and Intercontinental Real Estate Corp. are adding another life science building to their Seattle office portfolio.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/lpc-west-intercontinental-to-develop-seattle-life-science-building\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-19T17:28:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T07:24:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/buildings-1846133_1920.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jackson Chen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lpc-west-intercontinental-to-develop-seattle-life-science-building\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/lpc-west-intercontinental-to-develop-seattle-life-science-building\/\",\"name\":\"LPC West, Intercontinental to Develop Seattle Life Science Building - 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