Los Angeles-based Preylock Real Estate Holdings has a contract to buy Tower 1 at West Main from Vulcan Real Estate for $340 million. The 17-story office building in Downtown Bellevue is fully leased to Amazon. The sale has not closed yet and is expected to close before the end of the fourth quarter of 2026.
The tower is also known as Dynamo. It sits at 85 106th Ave. NE, has 364,868 square feet and was completed in 2023. The price comes to about $932 per square foot, at a 6.75% capitalization rate. The title will transfer to Preylock when the deal closes.
Vulcan put the building up for sale in February, with Newmark as the listing broker. No asking price was made public then, and property records listed the tower’s assessed value at about $140.9 million. Broderick Group’s Q3 2026 Eastside Office Market Report says Preylock is now working through the last details of the deal. In June, CoStar News reported that the sale could set a new price benchmark for Bellevue’s top office buildings.
Amazon leases the whole tower and uses it as a hub for Amazon Web Services. It has room for up to 1,500 employees.
The West Main Campus
Tower 1 is the first of three buildings at West Main. Vulcan completed the 1.03-million-square-foot office and retail campus in 2024. It has two 17-story towers and one 16-story tower on a shared base with about 34,000 square feet of street-level retail, including La Mar and Tapster. The complex is set up as a condominium. Amazon leased all three towers while they were being built, but Tower 1 is the only one it occupies today.
Preylock on the Eastside
Broderick says this purchase would add West Main to Preylock’s growing group of single-tenant office buildings on the Eastside. In 2019, Preylock paid $467.5 million for the five-building Newport Corporate Center in Bellevue and about $117 million for four buildings at Bellevue’s 90 North campus. In 2018, it paid $136 million for the seven-building Willow Creek Corporate Center in Redmond.
Another Pending Downtown Sale
Broderick’s Q3 report also covers Schnitzer West’s pending purchase of The Bravern’s 750,000-square-foot office complex. That deal is also aiming to close late in the fourth quarter.
