Pinterest will move out of its WeWork desk into a permanent office in Downtown Seattle.
The San Francisco-based social media bookmarking site has leased 21,500 square feet in Met Park East at 1730 Minor Avenue, GeekWire and the Puget Sound Business Journal reported.
Terms of the deal with landlord Beacon Capital Partners, based in Boston, were not disclosed.
More than half of the 389,000-square-foot tower is available for lease, according to Beacon’s website. Tenants include Beacon and Providence, according to public filings reviewed by the Business Journal.
Pinterest entered the Seattle market in 2016 with the opening of a sales and engineering office in the WeWork office. Within a year, the company reported it had 55 Seattle-based employees.
The publicly traded company’s new digs at Met Park East include a gourmet catering kitchen, fitness center and outdoor green space, according to CBRE.
Neither Pinterest, nor CBRE, which handles leases for Met Park East, returned a request for comment from the newspaper.
The office vacancy in Seattle rose 2.1 percent year over year to 28.2 percent in the third, according to Savills.
But the local office market is girding for a turnaround, with commercial brokers expressing “cautious optimism” that the worst may be over as employers such as Seattle-based Amazon.com call employees back to the office full time.
— Dana Bartholomew
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