Developer Michael Christ has been looking for several years for someone to lease three office towers in Renton.
Though he has no signed deals, Christ's Seco Development recently bought two nearby parcels, paying $23.5 million. One site abuts Seco's Southport, a $590 million mixed-use development, where the office towers sit empty next to the development's Hyatt Regency on Lake Washington.
Southport is an outlier in the region's red-hot office market. Virtually all of the new office development set to deliver on the Eastside over the next two years has either been preleased or has deals pending. Southport's 730,000 square feet remains the largest contiguous block of available space in the region.
Christ, CEO of Seco, has been saying for more than a year that he has deals cooking for the office towers, and that's still the case.
"We are under two NDAs (non-disclosure agreements) and those would be large users ... and then we have interest in spaces less than that as well," Christ said Monday.
Last month, Seco paid Puget Sound Energy $13.5 million for a 7.7-acre equipment storage area at 900 Lake Washington Blvd. N. It borders Southport's southern edge, making "a weird element" at the development's natural gateway, Christ said. "Now we can create an elegant frontage."
Puget Sound Energy will lease back the property for about a year as Seco decides how to redevelop it, Christ said.
About two block farther south, at 745 Park Ave. N., is a 5.1-acre surface parking lot that Seco bought for $10 million. ITF Developments LLC was the seller of the lot, which is just south of the Landing shopping center.
Next door, Topgolf is planning a complex that includes a hotel and restaurant in addition to driving range, according to the Renton Reporter. A Topgolf representative said the company hopes to be able to share more details soon.