August 26, 2026

JLL selling 57-acre Philips campus

Photos via JLL [enlarge]

The campus is in the Canyon Park area, just east of I-405, near the Bothell-Everett Highway junction.

It's been known since June that Philips intends to relocate some 1,500 workers out of Bothell, where it makes medical devices, and sell its existing 57-acre campus at 22100 Bothell-Everett Highway. GeekWire was first to report the news.

Since then, JLL has listed the property — unpriced, and with an unexpected sales pitch. Instead of preserving the existing four buildings, which span about 603,747 square feet, the broker is proposing what it calls Bothell 405 as an industrial redevelopment play.

Thus, say the brokers in their listing, keep Building C, which has a long-term lease to Juno Therapeutics, then scrape the other three structures. In their place could rise two logistics/industrial buildings with 566,015 square feet.

[enlarge]

One of the four existing buildings.

The campus is in the Canyon Park area, well north of downtown Bothell and just east of Interstate 405. (That's near its junction with Highway 527, aka the Bothell-Everett Highway). That area has long been home to many life-science buildings, some of which are decades old and nearing the end of their useful lives. But says JLL, it's “a submarket that has seen only two industrial buildings over 100,000 square feet constructed since 2000.”

There's no stated deadline for offers. An 18-month leaseback period would be required for the seller. During that period, presumably, Philips would begin scouring the office and light-industrial market for new digs. JLL would probably then be its agent.

The three possibly doomed structures were built between 1985 and 2002. They were evidently developed for Advanced Technology Laboratories Ultrasound, a division of Philips, which is based in Holland.

JLL's long list of brokers includes James “Buzz” Ellis and Rachel Jones. The firm can also help with a loan, if needed.

Only about two-thirds of the site can be developed; the north third is a wetlands. With only a bit of hyperbole, JLL says, “This is a once-in-a-lifetime opportunity to secure a development site of scale”