New Office Complex Plans for Tishman Speyer in Bellevue

Tishman Speyer’s proposed office complex in downtown Bellevue is moving forward with modified plans.

The New York-based developer submitted an application for design review for its four-tower office project at 100 112th Avenue Northeast, the Puget Sound Business Journal reported.

Tishman Speyer purchased the nearly 5-acre property from PMF Partners in 2021 for roughly $152.5 million and first received master development plan approval in 2023. To make way for its forthcoming development, the firm demolished the vacant Sheraton Bellevue Hotel at the site as well as two adjacent buildings that housed restaurants.

The developer’s 112th & Main project calls for the construction of four towers in two phases. The first phase would see the construction of two 14-story towers, and the second would entail a 14-story and a 13-story tower. The ground floors in each building would be reserved for retail and restaurant tenants.

The development would include more than 1 million square feet of office space in total. The first phase will boast more than 550,000 square feet of office space and 26,865 square feet of retail, while the second phase’s two towers will have 509,540 square feet of offices and 12,030 square feet of retail. Construction on the first phase is expected to begin this year and wrap up in 2030, according to planning documents cited by the Business Journal. The second phase will begin construction after the first is completed.

Tishman Speyer is seemingly looking to capitalize on the growing demand for office space in the Seattle metro’s Eastside, and Bellevue specifically.

In recent months, the city has attracted interest from big-name tech firms like OpenAI, which leased an additional 223,130 square feet of offices in downtown Bellevue last month, while Uber was reportedly looking to lease up to 150,000 square feet in the city last summer.

That increase in appetite for office space has led residential developers to react to the growing need for housing as more tech workers move in. Late last month, city officials approved a master development plan from Crescent Capital Partners for 491 units across two buildings. — Chris Malone Méndez