Bellevue has become increasingly popular with large tech companies in recent months, particularly Facebook, who also recently leased 47,396 square feet in Civica Office Commons, owned by Unico Properties. In October 2018, Facebook leased 85,000 square feet in Skyline Tower and Key Center, both owned by Kilroy Realty, while it also submitted plans for a 650,000 square foot campus called Building X in Redmond.
Developers have taken notice of tech’s expansion into the area; according to Kidder Mathews‘ Fourth Quarter Seattle Office Report, five buildings totaling 1.15 million square feet had plans to break ground in January 2019, although at the end of the year Block 16 was the only project under construction. Sources estimate that Facebook, should it maintain all of its leases in the area, will become one of the largest office tenants in the region behind Microsoft Corp., Boeing and Amazon.
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