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REI Lists Nearly Finished Bellevue HQ Before Taking Occupancy
REI plans to sell its new Bellevue headquarters prior to ever occupying the Spring District facility and intends to shift to a less centralized approach to its HQ presence in the Seattle area. The outdoor retailer is negotiating with “multiple interested parties” to acquire the 400,000-square-foot building and eight-acre corporate campus that is slated to deliver this summer.
One of those interested is reportedly Facebook, which occupies space in the same 36-acre mixed-use project being developed by Wright Runstad & Co. and Shorenstein.
REI’s Eric Artz says, “The dramatic events of 2020 have challenged us to reexamine and rethink every aspect of our business and many of the assumptions of the past. That includes where and how we work.”
REI now says its “headquarters” would span multiple locations across the region, and the company plans to lean into remote working as an engrained, supported, and normalized model for headquarters employees. The retailer believes that will provide flexibility for employees to live and work outside of the Puget Sound region while shrinking the co-op’s carbon footprint.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Development
- ◦Sale/Acquisition
