F5 Networks Leases New Office Tower at 801 Fifth Avenue
May 03 2017 - 2:09PM
Business Wire
Company will relocate to F5 Tower in
downtown Seattle from current campus on Elliott Bay
F5 Networks, Inc. (NASDAQ: FFIV) announced today that it is
moving its corporate headquarters to 801 Fifth Avenue. The new
Class A office tower developed by Daniels Real Estate and
Stockbridge Capital Group will be called F5 Tower.
F5 Networks, which currently has its headquarters on Elliott
Avenue West in Seattle, will relocate to the new downtown office
tower in early 2019 when the tenant improvement build-out is
completed. The company will lease all of the 516,000 square feet of
office space in the 44-story building. A full-service luxury hotel
designed by the internationally renowned Philippe Starck will
occupy the lower floors of the tower.
With a unique architectural design by ZGF Architects of Seattle,
the iconic and innovative tower was designed with high-tech
companies in mind. It is the only tower in Seattle that offers
column-free floor space for maximum efficiency and more windows per
square foot than any other office building with unobstructed views
of Seattle and the Puget Sound.
“Our move to F5 Tower will provide current and future F5
employees with an iconic, modern corporate headquarters that aligns
with our growth as a company and showcases our significant place in
Seattle’s technology industry,” said Andy Reinland, Chief Financial
Officer, F5. “The new space will provide a dynamic work environment
that will help attract top talent, while giving us room for
continued growth.”
F5 chose this location after a thorough evaluation of options
across King County against criteria determined through employee
surveys, workplace studies, and commuter data. The location was
chosen in part due to its excellent access to public transportation
options and freeways, as well as a wide range of employee amenities
and its proximity to downtown conveniences. Co-location with a
hotel will also serve F5’s extensive needs for meeting space and
provide a convenient location for visiting employees, customers,
and partners.
F5 Tower was developed by Daniels Real Estate in conjunction
with Stockbridge Capital Group, an investment management firm
representing major pension funds based in San Francisco. JTM
Construction is the general contractor, and Stuart Williams and Joe
Gowan at JLL represented Stockbridge Capital Group and Daniels Real
Estate in leasing the office tower.
“F5 Tower represents the next level of Class A office space in
Seattle,” said Kevin Daniels of Daniels Real Estate. “Its
innovation is rooted in the connection to the historic sanctuary
building, formerly the First United Methodist Church. The church
was started by pioneering families who have left their mark on
Seattle. I couldn’t be more pleased that a Seattle-based world
leader in technology has agreed to lease the full tower. It
certainly is full circle for the historic site, now the home of F5
Tower.”
“Stockbridge was drawn to invest in downtown Seattle because of
its great appeal as a place to work and the city’s proven record of
being able to grow great companies like F5 Networks,” said Terry
Fancher, Executive Managing Director of Stockbridge.
“Downtown Seattle has incredible infrastructure, amazing talent,
and offers everything that F5 Networks and other technology leaders
need for continued growth and financial success,” said Craig Kinzer
of Kinzer Partners, whose firm represented F5 in their search for a
new headquarters. “F5 moving to its own high-rise represents a new
trend of tech firms utilizing all the benefits of a dense, urban
location, as opposed to the traditional, low-rise campus outside
the downtown core.”
About F5 Networks
F5 (NASDAQ: FFIV) makes apps go faster, smarter, and safer for
the world’s largest businesses, service providers, governments, and
consumer brands. F5 delivers cloud and security solutions that
enable organizations to embrace the application infrastructure they
choose without sacrificing speed and control. For more information,
go to f5.com. You can also follow @f5networks on
Twitter or visit us
on LinkedIn and Facebook for more information
about F5, its partners, and technologies.
About Daniels Real Estate
Daniels Real Estate LLC is a Seattle-based company formed to
develop complex and challenging dense urban real estate projects
that help to revitalize the district that they are located in.
Combining community participation, advanced sustainable practices,
complex urban planning, great architectural design and historic
preservation, Daniels Real Estate has earned a reputation as a
leader in the Greater Seattle development community and a
nationally recognized contributor to historic preservation.
www.danielsre.com
About Stockbridge
Stockbridge is a real estate investment management firm that
represents many of the largest public and private pension funds in
the U.S. and numerous internationally-based investors including
major sovereign wealth funds. Stockbridge invests in all major
property types using core, value-added and opportunistic risk
strategies. Led by a team of industry professionals with decades of
experience, Stockbridge and its affiliates had approximately $10.7
billion of assets under management throughout the United States as
of Q1 2017. Stockbridge is headquartered in San Francisco with
offices in Atlanta, Chicago and New York.
F5 is a trademark or service mark of F5 Networks, Inc., in the
U.S. and other countries. All other product and company names
herein may be trademarks of their respective owners.
This press release may contain forward looking statements
relating to future events or future financial performance that
involve risks and uncertainties. Such statements can be identified
by terminology such as "may," "will," "should," "expects," "plans,"
"anticipates," "believes," "estimates," "predicts," "potential," or
"continue," or the negative of such terms or comparable terms.
These statements are only predictions and actual results could
differ materially from those anticipated in these statements based
upon a number of factors including those identified in the
company's filings with the SEC.
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F5 NetworksNathan Misner, 206-272-7494n.misner@f5.comorWE
CommunicationsHolly Lancaster,
415-547-7054hluka@we-worldwide.com
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