The Puget Sound Business Journal asks the question, What city is No. 1? They recently posted an intriguing story about how, “Hot” Bellevue is right now, implying they are No. 1. (not that we didn’t already know this)
Proof the article uses to back its case:
- Neiman Marcus chose to locate its first Northwest store in Bellevue over Seattle.
- Downtown Bellevue has the tightest vacancy rate in the country at 3.8% according to Cushman & Wakefield.
- Bellevue’s average office rent top’s Seattle’s.
- Recent New York Times Sunday article was written about Bellevue.
- 4,000 new residences in the works for Downtown Bellevue (another 4,000 in the works).
- Biggest office lease in Puget Sound area history was 1.3 million-square-foot lease for Microsoft in The Bravern and Advanta office projects.
- Expedia leased 348,000 square feet in Hines’ 333 office tower.
- Civica Office Commons in Downtown Bellevue was the highest price per square foot of any office building sold in the Puget Sound region for two years now, selling for $462, and later for $575.
- Downtown Bellevue’s office space rents for $35.59 per square foot ($2.80 more than Seattle).
- 14 Major commercial real estate projects under construction
- 12 Projects in permitting.
- 4 Projects in the pipeline.
Tags: Neiman Marcus
Best city in the U.S. – easily…
Huzzah! Yes Bellevue is awesome, but the need to move more quickly with the Factoria retail redevelopment. (not that it’s downtown but still)
as long as we keep the crazies and homeless in Seattle I will love Bellevue
I don’t think Factoria is a threat. No matter how fast they move, they will never REALLY be “Bellevue.”
Agreed, Factoria is like the retarded cousin to DT Bellevue, it’s ok if they are slow.
I think the reason Factoria hasn’t moved as quickly is because they ran into some hold-up with the city. The plans for it look good though, ONCE it starts moving.
I’m also excited about the recent growth in Bellevue, but you really need to think about this a little differently.
For instance, if Bellevue went away tomorrow – how would it impact Seattle?
But, if Seattle went away tomorrow – I have a pretty good idea of how it would impact the most well-known ‘superburb’ in the region.
Keep up your civic pride, but this isn’t really a contest.
(Oh, I’m working in Seattle again and don’t really see how you can compare the two cities. Come over on this side of the lake if you want to see 1) more buildings under construction, and 2) a mass transit system coming together.)
It’s not that it’s a comparison. I love Seattle…It’s where I tell everyone outside of Washington I’m from. I lived in Seattle for over four years, and it’s a beautiful city. It’s just nice to see an area like Bellevue growing with so much potential. Dr. Evil and Mini Me. Seattle and Bellevue…
Thanks to author.