Plans are Afoot for Bellevue Office Campus

Insiders say Tishman Speyer Properties is under contract to buy the BelleVista Place project in Bellevue, WA, which has an estimated a price of $155 million. Back in April, Bellevue-based PMF Investments previously completed the disposition of the mixed-use master-planned 4.9-acre development site at 100 112th Ave. NE for $152.2 million.

Tishman estimates some 6,500 people could work in the four 14-story towers upon completion. Under PMF’s proposal, BelleVista Place would include more than 1 million square feet of office space, 145 multifamily residences and a nearly 2-acre plaza, SP Global reported.

Substantial work has been completed on the design and city entitlements. The project was included in the first-quarter 2020 Downtown Bellevue Major Projects List with a slightly different take. This two-phase project had a 17-story office tower and five-story residential building in the initial phase, and a 17-story office tower and 15-story office building in the second phase. In total, the proposed project would have 138 residential units, 987,140 square feet of office space and 1,051 parking spaces.