Pokémon Firm Worldwide will surrender 155,000 sq. toes of places of work in Lincoln Sq. after taking on 16 flooring subsequent yr at a brand new tower in Downtown Bellevue.
The unit of Pokémon, primarily based in Tokyo, will consolidate from two buildings in Lincoln Sq. when it strikes into 374,000 sq. toes at The Eight, now below development at 10666 NE eighth Avenue, the Puget Sound Enterprise Journal reported, citing a report from the Broderick Group.
The leisure and card-game firm will pull up stakes from Lincoln Sq. South and Lincoln Sq. North at 500 and 700 Bellevue Means NE, owned by Kemper Improvement, primarily based within the metropolis.
The deal in January to occupy practically three-fourths of the places of work at Skanska’s 25-story tower a few blocks away was the biggest lease on the Eastside final quarter. The 16-year lease has two optionally available renewal durations of 5 years every, in response to a memorandum.
Monetary phrases of the lease weren’t disclosed.
The agency will take up 16 flooring and 152,3009 sq. toes of parking on the tower developed by New York-based Skanska USA Business Improvement, a subsidiary of Skanska, primarily based in Sweden. The curving glass tower is anticipated to complete development this spring. Pokemon is anticipated to occupy 72 p.c of its places of work and parking in January.
The Eight, a LEED Gold constructing rising at eighth Avenue and 108th Avenue, will include 540,000 sq. toes of places of work and 10,000 sq. toes of ground-floor retailers and eating places, in response to its web site.
Pokémon, serving because the constructing’s anchor tenant, represents the biggest workplace lease by Skanska USA, in response to the Enterprise Journal.
A lease memorandum exhibits that Pokemon has dibs on different areas within the tower. The corporate has the suitable of first provide for the tower’s remaining unleased house, positioned on flooring three by 9.
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Pokémon, in Bellevue for twenty years, has grown to greater than 900 native staff, an almost 500 p.c improve in 10 years.
The workplace market in Bellevue has hit headwinds previously two years after Microsoft stated it might exit as a lot as 2.7 million sq. toes because the tech agency consolidates to its newly expanded campus in Redmond.
TikTok is poised to lease greater than 132,000 sq. toes of places of work in Downtown Bellevue, doubling down on its e-commerce hub in house vacated by Microsoft.
— Dana Bartholomew
