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Historic Joshua Green Building Begins Renovation

  • Planning underway to preserve Seattle icon; Building to receive 21st Century
    structural and interior upgrades
  • Building will become one of only a handful of historic Class A office spaces
    available in Seattle’s downtown core

SEATTLE – February 15, 2008

A significant piece of Seattle history, intrinsically tied to one of the city’s founding fathers, is planning for a significant restoration.

Built on land originally acquired by Joshua Green in 1908, the Joshua Green Building, a 10-story, 101,000 sq. ft. building located on 4th Ave. and Pike St. in downtown Seattle, is planning for a significant exterior and interior renovation. The building has been owned and operated by the Joshua Green Corporation, a family-owned, Seattle-based investment company since its initial construction.

The company’s real estate holdings total close to 750,000 square feet of office and retail space in the Puget Sound region and Spokane.

“The investment we are making to preserve, update, and renovate the Joshua Green Building will help ensure this timeless building will be a part of downtown Seattle for another 100 years,” said Stanley McCammon, president and chief executive officer of the Joshua Green Corporation. “The availability of historic, Class A office space in downtown Seattle is very limited and we believe there is strong demand for this type of space. The building will feature operable windows, high ceilings, and abundant natural light, while preserving its early 1900’s character.”

Original internal systems, including steam heating, will be completely upgraded. A modern fire and life system will be installed, along with structural improvements.

The internal layout of the building will be reconfigured to mirror the needs of today’s Class A office and retail tenants. When the building was first constructed, office space demands for an average tenant totaled about 500 – 2,000 sq. ft. and buildings were designed with this size in mind. Today, the average size for a downtown Class A office tenant is about 6, 000 – 10,000 sq. ft., which works well with the building’s existing 8,100 sq. ft. floor plate The building’s interior will be redesigned to cater to this tenant size and will also easily accommodate a multi-floor user of up to approximately 50,000 sq. ft.
The Joshua Green Corporation has assembled a first-class team to help manage and execute the project. Seattle-based Urban Renaissance Group has been hired as development manager for the project. Office leasing will be managed by The Broderick Group and retail leasing by Real Retail. Lease Crutcher Lewis will serve as general contractor.

Renovation is expected to be complete by the end of 2009. Work is contingent upon final construction pricing, consistent with previous estimates.
Transition Planning Available for Existing Tenants
Completion of the necessary internal and external upgrades requires existing tenants to relocate to other buildings in downtown Seattle. To help ease transition planning, the Joshua Green Corporation is working one-on-one with each of its 45 tenants to help with relocation.

For more information about the Joshua Green Building or the Joshua Green Corporation, please contact Natalie Quick, Fearey Group, 206.343-1543.
To inquire about leasing opportunities, please contact Damon McCartney, Broderick Group, 206.838-7633.

About The Joshua Green Corporation

The Joshua Green Corporation is a privately held Seattle-based investment company tracing its roots to the success of a steamship business formed by Joshua Green and partners in the late 19th century. Additional significant investments in banking and insurance made in the 1920’s contributed to the company’s asset growth. Today, the Joshua Green Corporation continues to seek investment opportunities in both private and public companies, as well as real estate.

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