Debra Sinick

Commercial Real Estate Project Update on Seattle’s Eastside

In Bellevue, WA, Issaquah, WA, King County, WA, Local news and information, Real Estate News, Seattle real estate on May 19, 2008 at 8:05 am

Since the late 1980’s the Eastside of Seattle has exploded with development. Within the last few years, we’ve entered a completely new phase of development impacting many of the Eastside cities. Bellevue, Redmond, Issaquah, and Bothell are all undergoing big changes.

Here’s a list of some of the changes you will see on the Eastside.  Much of this information was provided courtesy of Al Hodge, a commercial real estate broker with The Broderick Group, Inc.  He has his ear to the ground and is very familiar with the latest happenings on the Eastside.  Al Hodge made a presentation a couple of weeks ago at my Windermere office. 

Downtown Bellevue is undergoing massive changes.  I met a friend for dinner downtown the other day and we commented on how different things will be in downtown Bellevue over the next couple of years.  There will be less of a need to go across the pond for great food and entertainment. (Not that there aren’t already some wonderful restaurants and entertainment venues on Seattle’s Eastside.)

Bellevue:

Microsoft has 3 million square feet of space.
Kemper Freeman is planning a $42 million upgrade of Bellevue Square.
El Gaucho restaurant is (rumored) to be opening in the new 26-story City Center Plaza off of NE 6th.
Other possibilities already reported in earlier posts:
John Howie of Seastar fame will open another restaurant.
Wild Ginger will also be on the Eastside.

Issaquah:

Opus Northwest will continue to have the largest retail center.
Group Health Hospital will keep its 26 acres of land/space.

Kirkland:

Parkplace is going through the review process for redevelopment.
Google is building 195,000 sq ft of space to accommodate about1000  employees.

 

 

Lake Street restaurants, including Hector’s, will closed and
The McLeod project is still under discussion.  Approved by the city’s Design Review Board, the plan was voted down by the City Council.

Redmond:

 4,000 space parking garage will be built to accommodate Microsoft employees. This billion dollar project will consist of a park and baseball field.
Nintendo, located nearby, recently sold Microsoft 40 acres of additional land for developing.
HP & EMC have moved in to the area
Angelo’s Nursery sold for $12 million for a future Elder Care facility.

 

Downtown Redmond:

 Whole Foods has started the chain of new developments.


Costco will soon develop on 28 acres alongside the Business Park. 
Xbox will stay for now possible move after Microsoft parking garage is built.

 What do you think about all this growth, all these changes?  Is it a good thing for the Eastside, or not?

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