BELLVUE, WA-Schnitzer West is reinvesting proceeds from the recent sale of its North Creek properties to purchase a site in the Bellevue central business district, where it plans to build a premier, 16-story class A office building.
The parcel is at the corner of 106th Avenue Northeast and Northeast Fourth Street. Schnitzer plans to develop a 360,000-square foot office building that will include street-level retail and a Bank of America branch. The new office tower is slated for completion in 2016.
Driven by the region's thriving technology industry, Bellevue has grown into a booming business center, and as a result its commercial real estate market has become increasingly constrained. As demand increases, businesses that want a unique environment and amenities not found in traditional office buildings are struggling to find spaces that fulfill their needs.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
