Published November 2000

Leasing under way
at Canyon Park Heights

By Kimberly Hilden
Herald Business Journal Assistant Editor

Construction has been completed on the Canyon Park Heights Office Center, providing an additional 143,800 square feet of Class “A” commercial space to the Technology Corridor that winds through Snohomish and east King counties.

The four-story building at 21540 30th Drive SE, which overlooks the rest of the Canyon Park business center in north Bothell, has conduits in place for fiber optics, should tenants want it.

“If we need fiber, we work with different carriers to bring fiber optics to (tenants),” said Rod Vogel, Managing Director of Principal Capital Management, whose client, Principal Development Investors, owns the office center.

Canyon Park Heights’ other amenities, according to literature from leasing agent Kidder Mathews & Segner Inc., include:

• A “high-image lobby” with recessed lighting, coffered ceiling and slate floors with cherry wainscoting.
• HVAC and electrical capacity “engineered to handle additional power and cooling demands of today’s technology tenants.”
• Three high-speed, passenger elevators and one oversized freight elevator, “all servicing the lower parking level through the four tenant-occupied floors.”

Lance Mueller & Associates of Seattle designed the building, and Foushee & Associates Co. Inc. of Bellevue was the contractor, Vogel said.

“Our goal is to develop the highest-quality building at considerably less rent,” when compared with office buildings in or near downtown Bellevue, Vogel said, adding that Bothell’s affordable housing, commercial land availability and pricing were factors in developing the site.

Puget Sound’s growing economy also was a project consideration, he said.

“Generally, we’re very high on Seattle, given the strong population and job formation that has developed there in the past three to five years,” Vogel said about Iowa-based Principal Capital Management, which oversees about 1.5 million square feet of space in the Puget Sound region.

The office center, which was under construction for about a year beginning in August 1999, already has two tenants, said John Cox of Kidder Mathews & Segner: Rolling Thunder, which is a high-tech public relations and new-media agency, and Crump Insurance Services Northwest Inc.

Formerly of Kirkland, Rolling Thunder relocated to Canyon Park Heights last month, tripling its office space by leasing about 15,000 square feet, company Vice President Hugh Drummond said.

“We’re in a fast-growth mode,” Drummond said, “so we needed to identify a location that would allow for us to grow in terms of employees but still be in a commute location convenient to employees” and to attracting new employees.

Lease rates are $19.50 per square foot per year triple-net, said Bill Neil of Kidder Mathews & Segner.

About 60 percent of the office center’s space was available as of early last month, Cox said.

For more information on the Canyon Park Heights Office Center, call Cox at 425-450-1105 or Neil at 425-450-1112.

Back to the top/November 2000 Main Menu