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May 27, 2021

Facebook-leased building at Spring District fetches $200M

Real Estate Editor

Rendering by Studio 216 [enlarge]
Facebook’s Block 24 is in the foreground, with its Block 16 north across the street. This view looks northwest along 124th Avenue Northeast.

Already leased to Facebook, Block 24 in East Bellevue's Spring District is nearing completion on its interiors and not yet occupied. Yet developer Wright Runstad and partners have already sold it, empty, to a fund associated with Brookfield Asset Management. The company announced the $200 million deal yesterday; King County hadn't yet recorded the sale before deadline Wednesday.

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