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May 4, 2023
While there may be plenty of subleasing anxiety at the Spring District in Bellevue, BNBuilders is confidently raising steel for the Block 13 building, at 1325 123rd Ave. N.E. There's no evergreen tree in sight, but a visit last weekend revealed that all nine stories are framed in place.
NBBJ designed the 213,000-square-foot office tower for Wright Runstad and Shorenstein Properties. The signed tenant is Facebook/Meta. However, the company has been shedding staff at a rapid clip, meaning reduced appetite for office space on both sides of the lake. It put the nearly completed Block 6 building on the sublease market in January.
Facebook/Meta is thus far the only signed office tenant at the Spring District, with around 1.8 million square feet (some still under construction).
Ground work for Block 13 began last year, and Wright Runstad said in mid-November, via Instagram, that excavation was complete. The crane was go up in December. Thus, the steel framing was speedily accomplished in a little over four months.
Some of the metal flooring is in place; it's unclear if concrete is being pumped above grade yet. Finishing the core and shell will obviously take much longer; and completion is projected for sometime next year. The big question is whether Facebook will occupy or sublease it.
The Block 13 team also includes Hart Crowser, geotechnical engineer; JMJ Team, permit expeditor; UMC, mechanical, plumbing and F.A.R.S.; Parametrix, surveyor; and Fazio & Assoc., landscape architect.
Meanwhile Turner topped out in February on the 11-story Block 5 building. The Block 6 building is substantially done; Facebook's sublease brokers there are unknown.
Broderick Group is offering the Block 15 building, which surely won't proceed on spec, with about 327,000 square feet over 11 stories. And CBRE is offering the non-office GIX building for sublease, as Puget Sound Business Journal reported last month. Tenants the University of Washington and Tsinghua University will reportedly vacate the 96,000 square feet in the summer of next year.
Brian Miller can be reached by email at email@example.com or by phone at (206) 219-6517.