1 / 6

Real Estate Reality Check Downtown Bellevue Office Space

Real Estate Reality Check Downtown Bellevue Office Space. GARY GUENTHER | Office Specialist Senior Vice President. Gary Guenther Partner - Senior Vice President GVA Kidder Mathews 500 108th Avenue NE, Suite 2400 l Bellevue, WA 98004 T 425.450.1154 l F 425.451.3058

nuwa
Download Presentation

Real Estate Reality Check Downtown Bellevue Office Space

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Real Estate Reality Check Downtown Bellevue Office Space GARY GUENTHER | Office Specialist Senior Vice President Gary Guenther Partner - Senior Vice President GVA Kidder Mathews 500 108th Avenue NE, Suite 2400 l Bellevue, WA 98004 T 425.450.1154 l F 425.451.3058 garyg@gvakm.com l www.gvakm.com

  2. SUPPLY/LANDLORDS • Bellevue CBD Office Space • Availability Rates: 14% • Quoted Rental Rates: $37.26/SF • YTD Leasing Activity: 123,273 SF • YTD Leasing Activity 2008: 784,801 SF • Eastside Office Sales Activity: • - YTD 2009: $18,000,000 – 7 transactions • - YTD 2008: $98,000,000 – 27 transactions

  3. LARGE BLOCKS & SHADOW SPACE 50,000 – 100,000 SF 11 spaces Eastside Office Market 1 space Bellevue CBD 20,000 – 50,000 SF 53 spaces Eastside Office Market 14 spaces Bellevue CBD Shadow Space = Currently leased, but unoccupied or scheduled for give-back

  4. Delayed projects • BELLEVUE CBD PREVIOUSLY PROPOSED OFFICE PROJECTS • The Summit/Phase III 333,000 SF • Beacon – NE 8th 800,000 SF • Lincoln II 600,000 SF • Washington Square 600,000 SF • Bank of America Site 400,000 SF • SRO Site 500,000 SF • 3,233,000 SF

  5. Who are the Tenants Bellevue CBD Office Tenants by Square Footage Leased

  6. TENANTS TRENDS 2009 + • Renewals Over Relocation • Flight to Savings • Contraction – Do More with Less • Extend & Blend/Reduce & Ride • Landlord Due Diligence

More Related