Developers Break Ground on Seattle Office Building

Scheduled for completion next year, 400 University at Rainier Square is the final piece of the 1.2 million-square-foot Rainer Square development.
400 University at Rainier Square. Rendering courtesy of Intercontinental Real Estate Corp.

Intercontinental Real Estate Corp. and Wright Runstad & Co. have broken ground on 400 University at Rainier Square in downtown Seattle. 

The 122,000-square-foot development will complete Wright Runstad’s 1.2 million-square-foot Rainer Square project, which is being built around the University of Washington’s 41-story Rainier Tower and will be the second tallest structure in Seattle once completed.

The project is situated at the SW corner of the Rainier Square block at University Street and 4th Ave. and is one block from University Street Link Light Rail Station. The building will include 12,000 square feet of street level restaurant and lounge space, a 6,000-square-foot rooftop deck and third-floor terrace. Office tenants will have access to Rainier Square amenities, which will include an Equinox fitness club, PCC Urban market, the Grand Hall and 16,000 square feet of additional outdoor space.  The NBBJ-designed office building has a completion date set for July 2021.

Intercontinental Real Estate Corp. entered the Seattle office market in late 2019 with the $157 million acquisition of Roosevelt Commons and now has a portfolio totaling more than 400,000 square feet of space. The purchase was made on behalf of one of the company’s managed funds.