Onni Group has opened leasing for the office tower at Onni Bellevue, the three-tower development under construction on the former Barnes & Noble site in Downtown Bellevue. Commercial real estate firm Kidder Mathews is marketing 800,000 square feet in the 47-story tower, with space divisible down to 100,000 square feet.
The project is the only major office building now under construction anywhere on the Eastside, according to Cushman & Wakefield’s Q3 2026 Eastside Office MarketBeat, which lists delivery for the fourth quarter of 2030.
Leasing Details
The Kidder Mathews listing places the office tower at 606 106th Avenue Northeast on a 4.02-acre lot and lists 2030 as its year built. Space is offered on a triple-net basis, meaning tenants pay their share of property taxes, insurance and maintenance in addition to rent. The listing does not publish a lease rate. Executive Vice Presidents Gary Guenther and Jason Bloom are leading the leasing.
The development site covers a superblock bounded by 106th Avenue Northeast, Northeast 8th Street, 108th Avenue Northeast and Northeast 6th Street. Barnes & Noble operated there for 29 years before it closed and moved to Crossroads Mall in 2022. The bookstore later returned to Downtown Bellevue at Bellevue Square in January 2025.
A Five-Year Build
Onni Group, a Canadian developer, bought the property in 2019 for $116 million. The City of Bellevue approved the project’s Master Development Plan and Design Review in June 2022.
Demolition began in June 2026, clearing the bookstore, the former Doxa Church building, the John Danz Theatre and the surface parking lot. Excavation was scheduled to start in July, and Onni has said construction will take close to five years, according to Downtown Bellevue Network’s April coverage, which described it as the largest construction project in Washington state.
What Is Planned
City of Bellevue records describe three 600-foot towers rising above a 40-foot podium: two residential towers, one of which includes a hotel, and one office tower. Plans include:
- 1,289 residences
- 317 hotel suites
- Approximately 896,000 square feet of office space
- Ground-floor retail
- Two swimming pools, a daycare and guest suites
- A public food court tied to the office tower, reached by a new east-west midblock connector along the north side of the site
- A 15,000-square-foot public open space and a 30-foot-wide segment of the Grand Connection
- Six levels of below-grade parking
The 800,000 square feet now being marketed is smaller than the approximately 896,000 square feet of office space described in the city records.
Eastside Office Market in the Third Quarter
Onni Bellevue is coming to a market with elevated vacancy. Cushman & Wakefield reports overall Eastside office vacancy at 22.4% in the third quarter, up 30 basis points from a year earlier. In the Bellevue central business district, vacancy reached 25.5%, up 200 basis points.
Eastside occupied office space fell by about 369,000 square feet during the quarter, compared with a loss of 1.2 million square feet in the third quarter of 2025. New leases totaled just over 358,000 square feet, down 27.4% from a year earlier.
Rents continued to rise. Class A space in downtown Bellevue averaged $66.18 per square foot per year in gross rent, up 3.3% from a year earlier. Across the Eastside, the average for all office space was $49.26 per square foot, up 1.6%.
About 2.7 million square feet of new office space has opened on the Eastside since 2024, including 479,000 square feet over the past year. Nearly 8 million square feet more is proposed, with 7.1 million square feet, or 88.8%, in downtown Bellevue. Cushman & Wakefield names the Kanon office towers, a 740,000-square-foot project with a 2028 delivery date, as the next most likely to break ground.
