According to the documents filed with the King County Recorder's Office, the movie theater terminated a 20-year pre-lease agreement with four five-year extension options for the ground and mezzanine levels of the retail piece. In 2001, when the project was in full swing, Drugstore.com worked out a deal to terminate its 90,000-sf pre-lease there after deciding it would no need the space.

Local real estate sources say Lend Lease in October began hunting for equity investors in that would provide more than $52 million in equity to revive the project. No such deal has been announced.

Lincoln Square was one of three major projects in Bellevue to get caught in the economic downdraft.

The $108 million, 20-story Bellevue Technology Tower was to rise on the corner of Northeast Fourth Street and 108th Avenue Northeast. At one point, the 377,000-sf project was 60% leased, but work stopped shortly after the underground parking garage was complete. Then owner, Eugene Horbach fought with the project's former general contractor and defaulted on the loan. Horbach reportedly owed more than $27 million, including interest and penalties. In June 2002, investment advisor Washington Capital Management, which had loaned $22 million to the project, purchased the property at auction in a foreclosure sale and has mothballed the site until a market opportunity presents itself.

The third major development to stall is The Summit, a would-have-been three-building, 875,000-sf office project in Downtown Bellevue. The first phase of the $250-million project was originally planned as two buildings totaling 530,000 sf. But after the 13-story, 286,000-sf Building B was completed, the second building was capped at three stories due to the depressed office market.