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Office Space for Rent in Bellevue, WA - 172 Listings

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Bellevue, WA - Office Market Overview

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The Bellevue real estate market includes the Bridle Trails - Bellevue, Crossroads, and Eastgate office submarkets. While the city itself has a population of over 141,000 residents, Bellevue is also part of the greater Seattle metropolitan area, which is home to nearly 2.9 million people. As the third-largest city in the Metro, the demand for Class A white collar office space in Bellevue is strong.

As of mid-2017, the Bellevue office market encompasses over 18 million square feet of existing office space in properties larger than 50,000 square feet. Conveniently located across Lake Washington from Seattle, the demand for commercial real estate in Bellevue has grown year after year.

Bellevue, WA - Office Inventory Description

As part of the Seattle metro area, Bellevue contributes significantly to the region's annual gross metropolitan product of nearly $250 billion. With direct access to Seattle, Bellevue is home to a wide variety of high technology companies, both large and small, which create powerful demand for Class A office space in Bellevue. Over 65% of the office space in Bellevue is Class A or A+, while Class B office product adds another 6.4 million square feet of space to the city's office inventory.

The Bellevue West office submarket is one of the many areas in the city that sees powerful demand for office space. Located along the I-405 north of the Mercer Slough Nature Park, this area is home to trophy office buildings such as Lincoln Plaza on South-East 6th Street, the Swift Gateway office building, and the Brookside Office Park.

Bellevue, WA Commercial Inventory Breakdown

Office Spaces

Total: 22,380,296 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail

By square footage range:

  • 50k to 100k SF: 3,151,420 SF / 14.08% of total office
  • 100k to 500k SF: 15,468,929 SF / 69.12% of total office
  • 500k to 1M SF: 3,759,947 SF / 16.8% of total office

By class:

  • Class A+: 591,634 SF / 2.64% of total office
  • Class A: 13,248,739 SF / 59.2% of total office
  • Class B: 6,053,489 SF / 27.05% of total office
  • Class C: 126,998 SF / 0.57% of total office

Top 10 Largest Office Buildings

in Bellevue

Office building Address Sqft Year built
555 108th Avenue 555 NE 108th Avenue, 98004 970,000 n/a
Lincoln Square South 10400 NE 4th Street, 98004 899,623 2017
600 Bellevue - Offices 600 108th Avenue NE, 98004 749,000 n/a
City Center Plaza 555 110th Avenue NE, 98004 591,634 2007
Lincoln Square Office Tower 700 Bellevue Way NE, 98004 549,690 2005
City Center Bellevue 500 108th Avenue NE, 98004 497,076 1986
Bravern Office Commons - Bravern 2 11025 NE 8th Street, 98004 494,523 2008
Key Center 601 108th Avenue NE, 98004 488,470 2000
Nine Two Nine Office Tower 929 108th Avenue NE, 98004 462,000 2016
Symetra Center 777 108th Avenue NE, 98004 450,359 1986

Most Recently-Built Office Buildings

in Bellevue

Office building Address Sqft Year built
Lincoln Square South 10400 NE 4th Street, 98004 899,623 2017
Centre 425 425 106th Avenue NE, 98004 354,454 2017
Nine Two Nine Office Tower 929 108th Avenue NE, 98004 462,000 2016
Overlake Medical Pavilion 1231 116th Avenue NE, 98004 191,051 2011
Lake Hills Village 655 156th Avenue SE, 98007 126,000 2010
Seattle Children’s Bellevue Clinic and Surgery Center 1500 116th Avenue NE, 98004 80,000 2010
Newport Corporate Center - Two Newport 3625 132nd Avenue SE, 98006 165,320 2009
Bravern Office Commons - Bravern 2 11025 NE 8th Street, 98004 494,523 2008
The Expedia Building 333 108th Avenue NE, 98004 440,565 2008
Bravern Office Commons - Bravern 1 11111 NE 8th Street, 98004 255,171 2008

Bellevue, WA - Green Office Space

Employment

People who live in Washington state are extremely energy conscious, so it should come as no surprise that the percentage of green office space in Bellevue exceeds that of many bigger cities. Of the 101 office buildings in the city, which are larger than 50,000 square feet, 26% are green office buildings, accounting for nearly 7 million square feet of green office space in the Bellevue market.

An excellent example of a LEED-certified office building in Bellevue is the U.S. Bank Plaza on NE 8th Street. Located in the Bellevue Downtown commercial real estate market, this Class A office building has over 144,000 square feet of LEED Silver certified office space.

The Seattle metropolitan area ranks ninth among the top 30 U.S. office markets, for the percentage of office buildings that are green, LEED-certified, or EPA Energy Star-certified. Over the past 12 years, the percentage of green office space across the U.S. has increased to 38%, up from 5% back in 2005.

Bellevue, WA's Top Office-Using Sectors

The Bellevue commercial real estate market is driven by a wide variety of businesses of all sizes and industries. Among the top office-using sectors in Bellevue are the technology, aerospace, telecommunications, and large corporate office-using segments.

  • Technology – Microsoft, Expedia, Unify Square, and The Pokemon Company International are just a few of the top office-using tech companies in Bellevue.
  • Aerospace – Boeing is the third-largest employer in the city and a significant creator of white collar office employment locally.
  • Telecommunications – T-Mobile and HTC Corporation also create demand for Class A office space in Bellevue.
  • Corporate Offices – Eddie Bauer, Dreambox, InfoSpace, QFC, Savers, and Symetra are just a few of the larger users of corporate office space in Bellevue.

Bellevue Demographics

Population

  • Total Population139,014
  • Male Population(50.7 %) 70,503
  • Female Population(49.3 %) 68,511
  • Median Age38.20

Income/Financial

  • Average Household Income$145,527
  • Median Household Income$105,402
  • Median Income Under 25$50,865
  • Median Income 25-44$114,288
  • Median Income 45-64$128,236
  • Median Income Over 65$63,787

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