Facebook is planning to lease offices in three Bellevue towers, sources say

by Ashley Stewart | August 14, 2018 | Puget Sound Business Journal

Facebook is planning to sign short-term leases in Bellevue as it considers a large office campus in the developing Spring District. The company is negotiating for space in three towers — Civica Office Commons, Skyline Tower and Key Center — spread across three blocks in downtown Bellevue, according to commercial real estate industry sources who asked not to be named to protect business relationships. It’s not clear how much space Facebook intends to rent, but one source described it as a “couple floors in each building.”

“We have no information to share at this time about our speculated growth in Bellevue,” Facebook spokesman Jamil Walker said.

The Broderick Group, which is listing space in Civica Commons and Key Center, declined to comment.

Civica Commons has nearly 60,000 square feet of available office space in two buildings, listed for as much as $37 per square foot.

KeyCenter has nearly 50,000 of available office space, listed for as much as $47 per square foot.

It’s unclear how much space is available in Skyline Tower. Newmark Knight Frank is listing the building and has yet to respond to a request for comment.

Facebook is said to be considering a much larger lease in the 36-acre Spring District development east of downtown Bellevue.

The project’s website lists 482,680 square feet of office space available as soon as 2020 and would give Facebook a large campus in Bellevue with an option to grow. The Spring District will eventually have 5.3 million square feet of office, residential and retail space.

Signing short-term leases in the towers will allow Facebook to grow its Bellevue office while it waits for Spring District construction to be completed.

Facebook declined to comment when asked about plans to move into the Spring District. Developer Wright Runstad President Greg Johnson and listing broker the Broderick Group also declined to comment on Facebook and the Spring DIstrict.

Facebook is expanding quickly in Seattle and on the Eastside.

The company will be the second-largest office tenant in Seattle’s South Lake Union neighborhood behind only Amazon when Facebook’s Arbor Blocks campus opens.

On the other side of Lake Washington, Facebook is expected to soon reach 1 million square feet along Willows Road in Redmond.

Facebook is growing so quickly in Redmond that sources said it’s putting pressure on nearby tenant General Electric Co. to move to a new WeWork office in Bellevue. Facebook has at least 2,000 employees and around 230 open jobs in the Seattle area.

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