According to a Q1 2024 office report that was published by real estate company, Savills, ByteDance has leased additional office space in Bellevue. The location that TikTok’s parent company will newly be located at is the Key Center building at 601 108th Avenue Northeast.
The report outlines ByteDance’s plans to lease office space at Key Center, with an additional allocation of 45,078 square feet. This expands their existing presence, which already encompasses roughly 110,000 square feet at this Bellevue location. According to Broderick Group’s Q3 report from October 2023, ByteDance planned to double down its footprint at Key Center.
As reported in January 2024, TikTok’s parent company is also leasing a total of 154,939 square feet of space at Lincoln Square North. This is square footage that Microsoft relinquished when they announced plans to let go of additional office space in Bellevue in December 2023, as their Redmond campus continues its renovation.
Online Retailer, SHEIN, is also leasing space at Key Center in Bellevue. In a press release from February 2024, the company announced that they would be expanding their presence at the Key Center building by leasing 10,000 square feet of space. It will serve as a hub for its U.S. fulfillment and logistics.
The Q1 report highlighted an uptick in office space leasing, indicating an increasing demand within Bellevue’s Central Business District. Of the total 1.5 million square feet of office space leased in the Puget Sound region during the quarter, Bellevue’s CBD claimed approximately 729,000 square feet.
