May 15, 2014

Capstone tops out Dexter Station on Dexter

Photo courtesy of Capstone Partners [enlarge]

Capstone Partners has topped out Dexter Station, a 10-story, 342,000-square-foot office project at 1101 Dexter Ave. N. in South Lake Union.

The building is designed for tech and life sciences companies, and will be ready for tenants next March. Capstone's Mike Hubbard would not say whether Capstone has secured any tenants, but he said there is “considerable interest in the entire building.”

Hubbard said Dexter Station will have two or three times as much infrastructure for power and cooling than a typical office building to handle the extra needs of tech companies.

LMN Architects designed the project, and JTM Construction is the general contractor. Stuart Williams, Laura Ford and Joe Gowan of Jones Lang LaSalle are handling the tenant search.

The team is targeting LEED gold certification.

Capstone worked with Holland Partner Group on an apartment project next door to Dexter Station called Union. The 284-unit building opened last year and is 98 percent leased.

Last June, Capstone finished a 240,000-square-foot building at Paine Field for Boeing supplier B/E Aerospace.

Capstone's biggest project is Esterra Park, a Redmond project that could have as much as 1.2 million square feet of office space, 1,400 residential units and a 200-room hotel. The 28-acre site once housed a medical campus for Group Health.

(Editor's note: This story has been changed to correct the number of hotel rooms.)

Capstone began road and utility work on Esterra Park in April. Construction on the first buildings will begin in June or July.