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Expedia Leases 348,000 SF in Tower 333 for New HQ

BELLEVUE, WA-The online travel company soaks up 84% of the 20-story, 414,000-sf office tower under construction in this city's tight Downtown office market.

By Brian K. Miller | Updated on June 28, 2007

BELLEVUE, WA-Expedia Inc. has signed a 10-year lease for 84% of a 414,000-sf, 20-story office building under construction in this city’s already tight Downtown office market. The online travel company will relocate it headquarters to the building from Sunset Corporate Campus along Interstate 90 in November 2008, approximately one year after the building is expected to be ready for tenant improvements.

The delighted developers are Hines, the Houston-based international developer; the nation’s largest public pension fund, the California Public Employees Retirement System; and Washington Capital Management, a Seattle-based employee-owned investment advisory firm that invests pension fund monies in union-built developments.

The building, now being called Expedia tower but heretofore known as Tower 333, is the first to be funded by the Hines CalPERS Green (HCG) development fund. It also represents Hines first joint venture with Washington Capital Management. The development site is on the southwest corner of the intersection of 108th Avenue Northeast and Northeast 4th Street. Washington Capital Management acquired the site already excavated at a foreclosure auction in a 2002.

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