Nordstrom signs big lease for office space in Seattle

New York City Nordstrom has signed a preliminary agreement to lease 265,000 sq. ft. of space in Washington Mutual’s former headquarters building, now known as the Russell Investments Center, in Seattle, according to the Puget Sound Business Journal.

The 42-story, 890,000-sq.-ft. office tower, a joint development by WaMu and its neighbor Seattle Art Museum, has sat largely vacant since the thrift was acquired by JPMorgan Chase & Co. last fall and thousands of employees were laid off, leaving 590,000 square feet vacant.

When finalized, the lease will give the Seattle Art Museum a long-term source of revenue from the block of space it owns in the building.

Nordstrom signed a letter of intent to lease floors seven through 12 and part of the fifth floor with an option to lease additional space later, the report said.

Currently Nordstrom occupies office space in four downtown office buildings.

“This is an opportunity to bring more employees together in fewer locations,” Nordstrom spokesman Colin Johnson said. “It has been difficult having our employees spread out.”

Johnson declined to disclose the financial terms of the lease.