{"id":1004725249,"date":"2024-08-13T04:11:17","date_gmt":"2024-08-13T12:11:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004725249"},"modified":"2024-08-13T05:38:06","modified_gmt":"2024-08-13T13:38:06","slug":"skanska-lands-2nd-tenant-at-bellevue-office-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/skanska-lands-2nd-tenant-at-bellevue-office-tower\/","title":{"rendered":"Skanska Lands 2nd Tenant at Bellevue Office Tower"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/9128d39fad647275_org.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004725251\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/skanska-lands-2nd-tenant-at-bellevue-office-tower\/9128d39fad647275_org\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/9128d39fad647275_org.jpg\" data-orig-size=\"1200,900\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"9128d39fad647275_org\" data-image-description=\"&lt;p&gt;Property at 10660 NE Eight St., Bellevue, Wash.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Skanska expects The Eight\u2019s completion this year. Image courtesy of Skanska&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/9128d39fad647275_org.jpg?w=1024\" height=\"768\" width=\"1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/9128d39fad647275_org.jpg?w=1024\" alt=\"Property at 10660 NE Eight St., Bellevue, Wash.\" class=\"wp-image-1004725251\" style=\"width:399px;height:auto\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/9128d39fad647275_org.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/9128d39fad647275_org.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/9128d39fad647275_org.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/9128d39fad647275_org.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption class=\"wp-element-caption\">Completion of The Eight is expected this year. <em>Image courtesy of Skanska<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Skanska has inked a lease agreement totaling some 68,880 square feet at The Eight, a 729,000-square-foot Class A+ office development in Bellevue, Wash. The long-term commitment includes roughly 47,360 square feet of office space and about 21,520 square feet of parking. The tenant, an advertising technology company, is expected to move in sometime in the second quarter of next year.<\/p>\n\n\n\n<p>This agreement marks the second leasing deal at The Eight. The first closed earlier this year, when <a href=\"https:\/\/www.commercialsearch.com\/news\/skanska-signs-legendary-deal\/\">The Pok\u00e9mon Co. committed to 526,350 square feet<\/a> at the upcoming office tower. That transaction\u2014Skanska\u2019s largest single lease\u2014also included 152,300 square feet of parking space. The development is now 82 percent preleased.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/tenants-are-leasing-more-office-space-in-prime-buildings\/\">Tenants Are Leasing More Office Space in Prime Buildings<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Construction on The Eight began in 2021, with Pickard Chilton and Adamson Associates providing architectural design. The <a href=\"https:\/\/www.commercialsearch.com\/news\/skanska-tops-out-seattle-area-office-tower\/\">development topped out last year<\/a> and completion is expected later this year.<\/p>\n\n\n\n<p>Upon delivery, the 26-story tower will feature 23,000-square-foot floorplates, 14-foot floor-to-floor heights, floor-to-ceiling windows, a 3,190-square-foot rooftop deck, as well as 11,000 square feet of ground-level retail.<\/p>\n\n\n\n<p>With a focus on <a href=\"https:\/\/www.commercialsearch.com\/news\/beyond-aesthetics-prioritizing-well-being-in-workplace-design\/\">health and well-being in the workplace<\/a>, the office building is slated to include indoor and outdoor fitness spaces, saunas and locker rooms on the second floor. EV charging and bike parking will also be available. \u00a0<\/p>\n\n\n\n<p>The Eight achieved WiredScore Platinum, Fitwel Level Two, SmartScore and Samon-Safe certifications. Additionally, the development is pursuing LEED Platinum. According to Skanska\u2019s first-quarter reports, the company has reduced its carbon footprint by 58 percent since 2015. \u00a0<\/p>\n\n\n\n<p>Located at 10660 NE Eight St., the development is proximate to several parks and transit stops, as well as within walking distance of downtown Bellevue, where a 1.3 million-square-foot shopping center can be found.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-skanska-s-puget-sound-developments\">Skanska&#8217;s Puget Sound developments<\/h2>\n\n\n\n<p>The Eight is Bellevue\u2019s first speculative office building to be developed in six years. The project is Skanska\u2019s second in the city, its first being Alley 111, a 260-unit multifamily project completed in 2015.<\/p>\n\n\n\n<p>The office development also marks Skanska\u2019s sixth development in the Puget Sound region. One of its earlier projects was 2+U, a 686,000-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/top-projects-that-will-reshape-seattle\/\">waterfront tower in Seattle<\/a>. Skanska topped out the project in 2018 and sold it for $704 million to Hana Financial Group in 2020.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-seattle-office-leasing-activity-booms\">Seattle office leasing activity booms<\/h2>\n\n\n\n<p>Greater Seattle\u2019s office market witnessed a surge in leasing activity during 2024\u2019s second quarter, according to a Savills report. Some 2 million square feet were leased, double the amount of last year\u2019s second quarter.<\/p>\n\n\n\n<p>Bellevue\u2019s <a href=\"https:\/\/www.commercialsearch.com\/news\/uli-special-report-the-past-present-future-of-cbds\/\">Central Business District<\/a> contributed 600,000 square feet of leased office space, making up 29.7 percent of all leasing deals of this quarter, the report goes on to show. <\/p>\n\n\n\n<p>However, despite the robust office leasing activity, the metro\u2019s vacancy rate stood at 27.7 percent in June, marking a 260-basis-point increase year-over-year. Bellevue\u2019s CBD fared better, with a vacancy rate of 21.2 percent in June, aided by strong demand for <a href=\"https:\/\/www.commercialsearch.com\/news\/sizing-up-the-prime-office-building-landscape\/\">prime office space<\/a>, Savill\u2019s report goes on to mention. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Still under construction, this development is now more than 80 percent preleased.<\/p>\n","protected":false},"author":3471,"featured_media":1004725251,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21742,21747,1610,15],"tags":[37128,32779,32886,34732],"class_list":["post-1004725249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-latest","category-office","category-seattle","category-west","tag-fitwel","tag-leed","tag-skanska","tag-wiredscore"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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