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Spring District Sees Continued Commercial Success

Date: June 02, 2021


Another major office building in Bellevue’s Spring District has sold — this one for $200 million.

The recently completed Block 24 office building, which is leased to Facebook, was sold to a Brookfield Asset Management real estate fund, according to a news release today from the building’s developers. The deal follows Brookfield’s purchase of a larger Spring District office building, also leased to Facebook, last fall for $365 million.

The Block 24 building represents the latest addition to the Spring District, which now includes more than 1 million square feet of office space, retail space, and more than 800 apartments centered on the future Spring District light rail station, the release says. Completed offices include the two Facebook buildings it’s leasing and another it purchased; the 400,000-square-foot former REI Co-op headquarters building Facebook bought last year for $367.6 million; plus the University of Washington’s Global Innovation Exchange (GIX) building.

Read more at 425 Business.