Sterling Realty Organization, the owner of the development on 106th Ave NE, between NE 8th and 6th streets, in Downtown Bellevue, is hinting at redevelopment of the area. This information comes as recently reported, by The Bellevue Reporter
The current street is home to Barnes & Noble, Mars Hill Church, Starbucks, and other several other commercial buildings.
The report states that Sterling Realty Organization is in talks with a company to develop a ground lease for an office building, and possibly a phased development as well. The report did not offer any suggestions as to potential tenant(s) or timeline(s). However, the Barnes & Noble lease ends in February 2014.
Very interesting. Washington Square is cleaning the laundry chemicals out of the ground at 106th and NE 8th as well. Sounds like they have a lot of interest in that property. It will be a race as to which one develops first. 🙂
Wow this is exciting news. That is a prime location right in the middle of downtown and along the pedestrian corridor. The article mentions Rockefeller as the prospective developer. Maybe they will build a Rockefeller Center West complete with ice rink and plaza.
oh no, where will I buy books from now? 🙂
The Bellevue Reporter article mentions Rockefeller Group Development Corporation as the partner that Sterling is talking to. Looking at their website (http://www.rockgroupdevelopment.com/) I mostly found very unimpressive 2-3 story structures in styles typically found in suburban industrial parks. I hope that’s not what we end up getting :(.
Sterling is run by some very sharp individuals who are vested strongly in the continued success and development of downtown. Expect a project that will be a great addition to downtown.