Patrinely and Dune Close on Fully Entitled Site in Downtown Bellevue

Patrinely Group, in partnership with affiliates of Dune Real Estate Partners, recently closed on the acquisition of a fully entitled development site for a 484,000-square-foot office tower in downtown Bellevue. The joint venture acquired the 0.93-acre site with an advanced building design from an affiliate of FANA Group of Companies. Located at the Southeast corner of NE 4^th and 106^th Ave. NE, the class-A building is set to break ground this spring and deliver in fourth quarter 2024.

“We are firm believers in the Bellevue market,” said Robert Fields, president and CEO of Patrinely Group. “We are confident this state-of-the-art building will be a welcome addition to the growing Bellevue skyline and provide prospective tenants an office space that will meet their needs not only today, but well into the future.”

The 21-story office building will include approximately 480,000 rentable square feet of office space and 6,500 square feet of street-level retail. The average floorplate size will be 24,000 rentable square feet. “Tenant demand for new state-of-the-art office space, especially in top knowledge markets like Bellevue, has been robust,” said Dan Neidich, CEO and partner of Dune. “FOUR106 represents a unique opportunity to develop outstanding product in a differentiated location within a market that has very attractive fundamentals.”