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September 15, 2020

Facebook buys REI's empty new Spring District HQ for $368M

Real Estate Editor

Rendering by REI/NBBJ [enlarge]
The two- and five-story REI complex also includes retail and amenity space that brings the overall project size to almost 423,000 square feet.

REI Co-op sent shockwaves through the Eastside office market last month when it announced that it would sell, not occupy, its empty new headquarters at the Spring District in East Bellevue. Yesterday the co-op announced that Facebook will buy its 400,000-square-foot complex for about $367.7 million. The main building address has now changed to 1550 121st Ave. N.E.

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