Failing to reach that threshold would force the developers to downsize the project, Taylor said. Taylor expects many of the tenants to be existing Capitol Mall companies that need to expand. Chamberlain, the Grubb leasing specialist, said Taylor's success at luring companies from elsewhere on the mall hinges on becoming clearly the best building on the street. It can't be perceived as being second to Wells Fargo Center in any way. Chamberlain also said the pre- leasing requirement could be a problem.
People like to kick the tires, go up and see the view. . .
One reason Ingemanson can make that commitment is his residential partner, Interland Corp. of San Mateo and Davis. One of the largest apartment owners in the region, Interland recently has specialized in building posh complexes in the Bay Area and Folsom. On paper, Ingemanson appears to be about 18 months behind the other private office deals in the pipeline. He said, however, his time line may be more realistic and that he would like to be the first of the three to open. Giannoni, meanwhile, said he was committed to starting construction late this year if the city approvals are in place.