A fully leased office building in Bellevue’s Spring District has been sold to Drawbridge Realty, a real estate investment firm based in San Francisco and partnered with KKR/Global Atlantic. The sale was arranged by commercial real estate company Newmark, which represented the seller.
The building, known as Block 13, is a nine-story, 212,128-square-foot Class A office property that was completed in 2024. It is fully leased to Meta, Inc., the tech company behind Facebook and Instagram. Block 13 is located in the Spring District, a growing mixed-use neighborhood in Bellevue.
The Spring District has become a major office hub for Meta outside its Menlo Park headquarters. The area includes around 800 apartments, 1.9 million square feet of office and retail space, and about two million square feet of planned development.
Newmark noted that interest in the property was high, with both U.S. and international investors competing to buy it. The firm said the deal reflects continued demand for high-quality, stable office buildings in tech-focused markets like Bellevue.
In another recent development in the area, Snowflake, a cloud-based data company, recently opened its new office in the Spring District’s Block 6 building. The space is 326,000 square feet and is being subleased from Meta. The move came after Snowflake outgrew its former office at the 929 Office Tower in downtown Bellevue. More than 700 employees relocated to the new space about a month before the official opening.
Snowflake is currently using five of the building’s 11 floors. Construction is ongoing on the sixth floor, with plans to finish the remaining floors later. The office features a Pacific Northwest-inspired “sea-to-summit” design, according to the company.
