When real estate experts look at tenants’ futures in Seattle’s Eastside, there are many rumors circulating about what Bellevue and its neighbors have in store. Will Apple set up a campus on the Eastside? Will Amazon move to Bellevue? Will Expedia move to Seattle?
Some particular questions are also widely speculated, like will F5’s requirement end up on the Eastside? Is the interest in Esterra Park real and will 400 Lincoln be fully leased by the end of the year? The Eastside is evolving for sure and could change dramatically in the next few years. It’s good to see that there is sustained, real interest from large-scale office users, in particular tech companies.
In fact, a recent article on Geekwire by reporter Taylor Soper points out just how important the greater Seattle/Bellevue area is as a major “tech hub” in America, mostly because of the considerable computer engineering talent that resides in the region. The story centers around Chinese tech giant Alibaba (valued at $211 billion) hosting a Technology Forum in downtown Bellevue at which the company confirmed moving its engineering office from Seattle to Bellevue, WA.
The article noted that “While Seattle is known worldwide for its robust tech ecosystem, Bellevue is home to several large tech companies like Expedia, Concur, and T-Mobile, and more than 1,000 startups.”
“Alibaba is one of more than 80 out-of-town tech companies that have engineering offices in the Seattle area, hoping to tap into the technical talent base in a region that is also more affordable for many folks looking to re-locate from the Bay Area.”
At Juniper Capital, we aim to share quality regional business news so that we can all realize successful real estate investments in Bellevue, Seattle or throughout the Northwest. We are a leader in private money loans in Seattle and we pride ourselves on funding sound investments at reasonable rates. We’d like to thank our friends at Kidder Mathews for the above information. Learn more about the Sales Comparables and Lease Comparables listed in their September Eastside Market Review.