Across the street, ground has been broken for the 400,000-sf Bellevue Technology Center. Down the road, work began last week for the 400,000-sf Lincoln Center. Thankfully, said Gary Carpenter, Bentall's U.S. COO,"our buildings are smaller as far as heighth, so we'll actually be done before they will."

Despite that, Carpenter told GlobeSt he's not too worried about trying to secure commitments from tenants just yet. Indeed, said Carpenter, given the lilliputian vacancy rates in downtown Bellevue and throughout the Northwest for Class A office space - it's hovering right around 1 percent - it would probably only lose the company money.

"The market is so hot you almost stub toe if you go too quick," he said. "Rents are rising on a weekly basis around here."