Corbis Relocating to Dexter Horton Building

SEATTLE-Corbis Corp., a Bellevue-based photo archive company, has signed a 15-year lease for 72,000 sf in the Dexter Horton building, located at 701 Third Ave. in the Pioneer Square area of Downtown Seattle.

The Bill Gates-owned company is currently headquartered in Equity Office Properties Trust’s Eastgate Office Park in Bellevue. It’s lease at the Dexter Horton Builidng commences Jan. 1, 2003.

The Dexter Horton building is a 15-story, 250,000-sf historic building that is currently in the midst of a $10 million renovation sparked by earthquake damage. The renovation includes a seismic upgrade, a new lobby, high-speed elevators and cabs, restoration of the terra cotta, and a media conference center, among other things.

The building is owned by the John Goodman and Carlyle Group, which purchased it from the city of Seattle in 2000 for about $47 million. While the terms of the lease were not disclosed, the asking rate for such space averages $26.38 per sf per year, fully serviced.

Dan Dahl and David Gurry of CB Richard Ellis represented the building owner. Corbis was represented by Tim Nelson of Nelson Realty Advisors and Tom Robison of Insignia Kidder Matthews.