The COVID-19 craziness did not stop construction, but it did delay the completion date, says Carl Anderson, managing partner at Larkspur Capital.
“Our completion date was pushed out a little due to social distancing requirements in place for subcontractors and some delay in getting inspections completed,” he says. “Right now, we expect to finish the base building improvements in two weeks.”
Initially, the window replacement was the most noticeable construction. The replacements are frameless with a blue hue. More recently, white paint is beginning to cover the brown beige concrete. The horizontal floor plates will soon be a new dark gray.
Will anybody really miss the original color scheme from the 1967 construction?
“Everything is being replaced — the electrical system, HVAC system, elevator motors and plumbing were from 1967,” Anderson says. “All of those systems have been replaced with new state-of-the-art computerized systems. The lobby will feature polished white stone floors, open ceilings and glass walls. We went back with a much larger lobby space that will include a seating area. We also fire sprinklered the building and replaced the fire alarm system. We’re also reconstructing the parking lots and adding new landscaping.”
Anderson confirmed that residential real estate firm Compass has leased the first three floors, and its interior office construction will start soon. Two other leases — Anderson can’t announce tenant names yet — have been signed for three additional floors, leaving only one floor vacant. That’s 87 percent pre-leased, a winner by any measure. Rental rates are quoted at $36 NNN, which means tenants pay their proportionate share of taxes, insurance and other operating expenses.
OMNIPLAN is the architect of record. Marketing and leasing is by ALT + CO. A brochure with several building renderings can be viewed here.
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