The Rockefeller Group, a global private company based in New York City, primarily involved in real estate operations in the United States, has plans to enter the Downtown Bellevue commercial real estate market. It is well known for the development of Rockefeller Center in New York
Bellevue’s Sterling Realty Organization (SRO) has partnered with The Rockefeller Group and collectively has plans to build an office plaza on 5.5 acres owned by SRO in downtown Bellevue.
Public records indicate the agreement gives Rockefeller a choice to lease the site from SRO and develop the property, an option not exercised to date. The agreement also gives Rockefeller first right to buy the site outright.
According to a Seattle Times report Rockefeller and SRO indicated the complex would be built in gradual stages “to allow for demand-driven development.” This likely means that construction will not begin without signed commitments from tenants. The project would be 2.4 million square feet, and be one of the largest in Downtown Bellevue.
The site at 106th Ave NE and NE 8th St, includes a Barnes & Noble bookstore, Starbucks, and Mars Hill Church. Preliminary plans indicate three office towers, including retail and office space.
