In the year 2000, after three years in our initial location, and at the height of an acute shortage of office space, the company needed to find new office space. The old location was in the path of redevelopment for South Lake Union and was no longer suited for low rise small office spaces.
The dynamics of the office market at that time had companies competing against each other for space and skyrocketing rents. We started looking in April with a forced move out date at the end of October. The outlook was grim and the time grew short when we found a sign in front of a Capital Hill apartment house. The signed advertised apartments and “Executive Suites”. In the City of Seattle, Executive Suites can be rented by the day, week, or month and can be used for residential and/or office uses. The latter use was of obvious and immediate interest to the company. We quickly determined that one of the suites could be converted for our use as an office. It featured a full kitchen, bathroom, and the availability of monthly parking in a security garage, all within a couple of blocks from the downtown Seattle Central Business District. We moved there in 2000 and have never looked back. Today our rent per stall for three cars is less than one stall on a monthly basis in a downtown high rise. Our monthly office rent is a fraction of current downtown office rents. THIS IS THE KIND OF CREATIVE SOLUTIONS WE SEEK FOR OUR CLIENTS.
The relationship with the Landlord has been mutually beneficial. We have consulted with them on comparable rents for other mixed use projects, leased, and released office and retail spaces in their mixed use buildings and continue to enjoy a mutual beneficial and respectful relationship.