We just recently received a breakdown of the cost
estimates for the tenant improvements for the 3,607 sq. feet of space on the
25th Floor, 621 Capitol Mall. The pricing we received was
significantly higher than anticipated, is
not acceptable and will require a
thorough evaluation on our part. While BOE understands the
Lessor has already signed off on the lease, we would like to meet with DGS to
explore bringing these costs down, with the understanding that Mr. Horton is
still in need of suitable space if consensus can be reached on a
competitive market rate that's comparable to the
existing space BOE occupies in this building.