Pogacha, the Bellevue restaurant that catered The Summit's grand opening, is currently negotiating to lease space as well. Less than 20,000 sf of leasable space now remains at the facility, according to Lisa Row, vice president for leasing at Bentall Capital U.S. Inc., the project developer.

GlobeSt.com reported earlier this month that Captaris, a publicly-traded software company, will relocate its corporate headquarters from 11410 NE 122nd Way in Kirkland. It will occupy 61,000 sf at The Summit. Similarly, the law office of Perkins Coie plans to move from One Bellevue Center and lease 40,000 sf, while JPC Architects will be leaving its Redmond home to occupy 11,000 sf.

Rowe has declined to release deal values, but says the going rate for class A office space in the Bellevue CBD is roughly $21 to $25 per sf. She describes the leasing environment "as tough" but counts herself fortunate to be negotiating on behalf of a quality project.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.