Office Building Next to Microsoft Mini-Campus Sells

Local investors have scooped up an office building located next to a de facto Microsoft campus in downtown Redmond.

Eastside investors, acting through LLCs listed as Global Land 7500 and Huachen Investment, purchased the property at 7500 166th Avenue Northeast for $23 million, the Puget Sound Business Journal reported. Canadian investor Nicola Wealth Real Estate sold the property, known as Studio 7500, after purchasing it in 2020 for $32.5 million.

Studio 7500 is a part of Redmond Town Center, a mixed-use development in the heart of the Eastside city where Microsoft occupies three buildings known as Microsoft Redmond Town Center 4, 5 and 6. The two-story building sits on a 2-acre lot and spans 34,900 square feet. Its most recent assessed value is $18.5 million, according to the Business Journal.

The Studio 7500 property, located a block to north of Microsoft Redmond Town Center 4, has long been a single-tenant building. REI owned the building from 1998 until its departure in 2017. Volkswagen followed as a brief tenant after that.

Last July, cybersecurity company CrowdStrike Holdings leased Studio 7500. The Austin-based firm relocated there from its office in Kirkland.

When previous owner Nicola Wealth purchased the site in 2010, the firm was bullish on the forthcoming Redmond light rail station, which opened in 2024, and the tight office market in the area. At the time, both Redmond and downtown Bellevue had office vacancy rates of 2.9 percent, making them the lowest in the Eastside market.

Since then, vacancy rates in those areas have spiked. At the end of 2025, Redmond notched an office vacancy rate of 17.6 percent and downtown Bellevue’s office vacancy rate was 25.4 percent, according to Broderick Group data cited by the Business Journal. Overall, the entire Eastside office market had a 21.8 percent vacancy rate.— Chris Malone Méndez