The University of Washington has moved into 133,000 square feet at Gateway Building, a newly constructed property formerly known as the U District Station Building.
With the move, now more than half of the 12-story tower at 4328 Brooklyn Ave. NE is occupied by UW, reported the Puget Sound Business Journal. The school’s ground lease is 50 years with options for two 15-year extensions.
UW plans to use office space on floors two through seven to support innovation and research. Most of the school’s Environmental Health & Safety teams have relocated to the new Gateway building above the Sound Transit Link light rail station on Brooklyn Avenue NE between NE 45th and 43rd Streets.
The space also includes two ground retail spaces totaling 3,500 square feet, marketed by CBRE’s Jennifer Seversen. The university agreed to pay an annual per-square-foot base rent of $46, plus an estimated cost of nearly $15 a foot for property taxes, insurance and maintenance. The base rent will increase by 3% annually.
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