Skanska to invest $392M in Seattle office project

WCN Editorial Team 6 Feb 2017 NORTH AMERICA BUILDINGS

Skanska, a construction and development company based in Sweden, has announced plans to invest $392M in an office project in Seattle, US.

The project will involve the construction of a new 38-storey office building. The property will feature about 62,000 sq m of office space, 1,700 sq m of retail space, and 2,200 sq m of covered, outdoor open space that will create a public urban village.

Construction work is expected to commence this month and be concluded in the second quarter of 2019.

The construction contract for the project is valued at $228M and will be included in Skanska USA Building’s order bookings in the first quarter of 2017.

Since 2009, Skanska USA Commercial Development invested about $1.5bn in various projects.

* Data provided by Timetric's Construction Intelligence Center.

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