This week will focus on commercial real estate vacancies which have high profile locations.

There is no location more painfully vacant than the Bellevue Galleria. Since its opening in 1999 Bellevue Galleria has gone through some major tenants including Tower Records, Hooters, Houlihan’s, Ben and Jerry’s, The Garage, and more.

With the opening of Lincoln Square Cinemas over a year ago it has made the Bellevue Galleria less attractive for possible tenants in the short term.

Bellevue Galleria’s second floor (pictured below) is practically completely abandoned. There are about five retail locations which currently sit empty, which show no promise of life.

The saving grace of Bellevue Galleria will be Bellevue Towers, the condominium project being built next door. The dual towers will bring 558 residences footsteps away. If that isn’t a godsend I don’t know what is. These upscale residences, which are on track for completion with some of the units in late 2008 will bring ideal clientèle with disposable income ready to spend.

Bellevue Galleria’s Tap House has proven its success by recently opening a Downtown Seattle location.

Despite having trouble filling these once undesirable retail locations, I believe the future is very bright. The worst has passed, and there is a lot of money to be made by the soon to be many residents of Downtown Bellevue.

Pictures Taken 7/26