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June 4, 2020

Work starts on second Rainier Square tower

It's no secret that Wright Runstad has been working on the 10-story 400 University office tower planned at Rainier Square. The tower crane went up in March, and the jobsite has been gradually coming back to life since work was paused that month due to the coronavirus pandemic. Now it's official. The company, with new financial partner Intercontinental Real Estate, yesterday announced its official groundbreaking on the 122,000-square-foot speculative project. NBBJ is the architect and BNBuilders is the general contractor. Completion is expected by July 2021. Greg Inglin and David Abbott at Colliers are marketing the space. Jeffrey Weber and Jason Flynn of Eastdil Secured arranged the JV with Intercontinental, of Boston. (That firm, with a portfolio worth about $10 billion, recently acquired Roosevelt Commons in the University District for $157 million.) Wright Runstad's Walt Ingram said in a statement, “400 University reflects our continued belief in downtown Seattle and the long- term prospects for its economic growth and office demand.”




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