Bellevue Technology Center is located in the 520 corridor submarket of the Seattle-Bellevue regional office market and is well-connected to the Interstate Route 520, providing easy access to the greater Seattle region.
The office campus, which features nine Class A/B buildings, had previously undergone capital improvements with an upgraded fitness centre, a conference room, a full-service café and new parking stalls. Being situated close to Microsoft Corporation’s headquarters benefits the property as Microsoft’s continued growth could result in an increase in vendors and contractors who work with the software company, driving demand for space at properties nearby.
(1) The valuation of Bellevue Technology Center takes into account the value of the excess parcels which may be developed as the property has unutilised plot ratio.
(2) Refers to average submarket office rent.
Source: CoStar Office Report, July 2020.