Skanska invests USD 150 M, about SEK 980 M, in new office building in Seattle, USA

10/15/2013 8:30 AM CET
Press release

Skanska is investing USD 150 M, about SEK 980 M, in an office building in the South Lake Union area of Seattle, USA. The total leasable space will be about 31,000 square meters. Skanska USA Building will implement construction of the project at a contract value of USD 77.5 M, about SEK 501 M, which will be included in order bookings for the fourth quarter of 2013.

400 Fairview Seattle

The project is a 13-story office and commercial building with ground floor retail, targeting a minimum of LEED Gold certification.

The project will start in October 2013 and is expected to be completed in the fourth quarter 2015.

Global retailer and lifestyle brand Tommy Bahama is the first tenant and will occupy 11,100 square meters of the building.

Skanska USA is one of the leading development and construction companies in the country, consisting of four business units: Skanska USA Building, which specializes in building construction; Skanska USA Civil, specialized in civil infrastructure; Skanska Infrastructure Development, which develops public-private partnerships; and Skanska Commercial Development, which develops commercial projects in select U.S. markets. Headquartered in New York, Skanska USA has approximately 8,300 employees and its 2012 revenues were SEK 37.3 billion.