retail leasing guide€¦ · of the world’s most distinguished architectural achievements. his...
TRANSCRIPT
RETAIL LEASING GUIDE
EXCLUSIVE LEASING AGENT:
MARK C. ANDERSONSenior Vice President | Bellevue425.453.3117 | 206.850.3826 [email protected]
COLLIERS INTERNATIONAL11225 SE 6th Street | Suite 240 Bellevue, WA 98004www.colliers.com
Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. This publication is the copyrighted property of Colliers International and /or its licensor(s) 2018. All rights reserved.
STUNNING GROUND FLOOR RETAIL SUITES AVAILABLE SPRING 2020 | 1492 - 3117 SF188 Bellevue Way NE, Bellevue, WA 98004
NOW LEASING
A WORLD CLASS BUILDING
Located in the heart of Bellevue, Washington’s most distinguished luxury corridor, One88 is a visually stunning, new condominium tower featuring 147 residences above 12,677 SF of beautifully appointed retail suites.
Designed by Amanat Architect and developed by Bosa, One88 is the best of everything Bellevue.
WORLD CLASS ARCHITECTURE HOSSEIN AMANAT - AMANAT ARCHITECT
Hossein Amanat has envisioned, designed and executed some of the world’s most distinguished architectural achievements. His firm, Amanat Architect, is known for integrating diverse culture and themes into distinctive structures sensitive to the surrounding landscape and community environment. One88 speaks to this commitment as well as the inspiration provided by the resplendent quartz crystal native to the Pacific Northwest.
BELLEVUE WAY
405
NE 2ND ST
100TH AVE NE
KIRKLANDLAKEWASHINGTON
BELLEVUE DOWNTOWN PARK
A WORLD CLASS LOCATION
According to Forbes Magazine, in 2017 Bellevue was one of the fastest-growing
cities in the United States, due in large part to its beautiful climate, spectacular
views, creative vibe, relaxed lifestyle, and the continuing acceleration of the technology
industry.
Bellevue Way, a major thoroughfare that runs north to south through the heart of the city, is
the focus of luxury retail. Storefronts with the best position on the street are understandably scarce as retailers compete to access the buying power of an influential population.
One88 is strategically located at the apex of activity where Bellevue Way intersects NE 2nd Street, with significant foot traffic throughout the day and approximately 40,000 vehicles passing by during the work week.
PUGET SOUND
WEST SEATTLE
SEATTLE CBD LAKEWASHINGTON
MERCER ISLAND
RENTON
NEWCASTLE
REDMOND
KIRKLAND
BELLEVUE CBD
405
405
405
90
90
520
520
5
5
5
ISSAQUAH
LAKESAMMAMISH
ELLIOTT BAY
SAMMAMISH
SEATTLE-TACOMA INTERNATIONAL AIRPORT
A WORLD CLASS RETAIL SPACE
You’ve always wanted a store like this...
Distinctive storefronts, soaring ceilings, generous customer parking and beautiful streetscapes — everything dreamt of by the best retailers and brought to life in the retail suites at One88.
CORNER OF 105TH AVE NE & NE 2ND ST
CORNER OF NE 2ND ST & BELLEVUE WAY NE
RETAIL LEASING INFORMATION
One88’s five retail suites have exceptional storefront width to depth ratios, ceiling heights ranging from 22’
to 26’, and correspondingly tall storefront glass, allowing for creative marketing, inspirational window displays and high-
impact impressions for passing foot and vehicle traffic. The dedicated retail parking is especially generous and convenient.
SUITE # SUITE SIZE
1 3,058 SF2 2,877 SF3 1,492 SF4 3,117 SF5 2,133 SF
RETAIL PARKING SPOTS PARKING RATIO
57 Parking Stalls 4.5/1000
SUITE 2
SUITE 1
SUITE 3
SUITE 4 SUITE 5
RETAIL PARKING FLOOR 1 33 SPOTS
RETAIL PARKING FLOOR 2 24 SPOTS
2ND FLOOR
GROUND FLOOR
BELL
EVUE
WAY
NE
NE 2ND STREET (PARKING ENTRANCE)
ONE88 LOBBY
A WORLD CLASS CITY
Bellevue, Washington is one of the best places to live and work in the United States. Its name literally means “beautiful view,” and the city’s dedication to balancing business with green space and the wellness of its populace is evident by its “City in a Park” nickname. The proposed Grand Connection, a sweeping vision for improving connectivity, urban amenities and experiences within Bellevue, will link Meydenbauer Bay Park on the waterfront to Downtown Park, Bellevue Way just across from One88, and the Bellevue Transit Center, among other destinations.
Bellevue’s CBD was recently rezoned to allow for grander buildings measuring up to 600’ in height and featuring substantially more public open space. A wave of high rises currently underway will transform the city’s skyline.
TOP BELLEVUE CBD TECH OCCUPANTS
Much of Bellevue’s economy has been driven by the growing technology industry, which employs more than 24 percent of the city’s workforce. The Central Business District (CBD) is home to 216 tech companies, with more start-ups founded seemingly every day. Global giants such as Microsoft have called downtown Bellevue home for more than a decade and big names like Concur and Salesforce have planted flags. Amazon recently opened a new office downtown.
MICROSOFTSAMSUNGVALVESALESFORCEORACLEAMAZONCONCUR
EXPEDIAEBAYCISCOWEWORKBUNGEEAPPTIOBIT TITAN
ZILLOWALIBABAPACCARPOKEMONSONYLGSMARTSHEET
MAJOR BELLEVUE EMPLOYERSBELLEVUE COLLEGEEXPEDIAPUGET SOUND ENERGYBELLEVUE SCHOOL DISTRICTMICROSOFT
SYMETRA FINANCIALBOEINGNORDSTROMT-MOBILE USAOVERLAKE HOSPITAL
405
80 +7200 +333
NE 8TH ST
NE 4TH STREET
NE 2ND STREET
MAIN ST
NE 6TH ST
BELL
EVUE
WAY
NE
NE 8
TH S
TREE
T
108T
H AV
E NE
110T
H AV
E NE
112T
H AV
E NE
107T
H AV
E NE
105T
H AV
E NE
106T
H AV
E NE
BELLEVUE DOWNTOWN
PARK
A WORLD CLASS DESTINATION
Bellevue Way’s prestigious mix of retailers has made the street a destination for both locally-based shoppers and customers from across the Pacific Northwest. Among the major draws is the newly expanded, 5.6 million-square-foot Bellevue Collection, which is projected to host over 29 million annual visitors in 2019. The complex contains three luxury hotels, three office towers, luxury apartment residences, more than 200 retail shops, and 80 restaurants and cafes.
NE4TH STREET
116T
H AV
E NE
NE 8TH STREET
120T
H AV
E NE
MAJOR RETAILERS ON BELLEVUE WAY
KEY
RestaurantsCoffee & DrinksRetailBanking & ServicesFitness & HealthHotelsFuture Light Rail
ALVIN GOLFARB JEWELERS AMAZON BOOKSANTHROPOLOGIEAPPLE STOREARITZIAARMANI EXCHANGEBCBGMAZAZRIABOCONCEPTBOSEBROOKSTONEBURBERRYCAPITOL ONE CAFECHICO’S CINEMARK RESERVECOACHCRABTREE AND EVELYNCRATE AND BARREL DIANE VON FURSTENBERGDOMINOEXPRESSEXOFFICIO
FACONNABLEGODIVAGREEN LAKE CYCLE GUNNAR NORDSTROM GALLERYHABITANTHALL SPRASSOVE GALLERYHELLY HANSENHENDREDON & SCHOENERHUGO BOSSIMAXINTERMIXIVIVVA ATHLETICAJOHNSTON & MURPHYKATE SPADE NEW YORKLULULEMON ATHLETICALUSHL’OCCITANEMACYS
MAX MARAMICHAEL KORSMICROSOFT STORENORDSTROMTHE NORTH FACEOAKLEYPOTTERY BARNROBBINS BROTHERSSEPHORASOUL CYCLETESLATHOMASVILLE HOMETIFFANY & COTOMMY BAHAMATUMIURBANITYVICTORINOX SWISS ARMYWEST ELMWHITE HOUSE | BLACK MARKETWILLIAMS SONOMA
DEMOGRAPHICS / CITY INFORMATION
CENTRAL AND ACCESSIBLE LOCATIONBellevue is well connected:
■ By car via I-90, I-405 and SR 520 ■ By light rail to be completed in 2023 ■ By future water taxi across Lake Washington ■ By numerous dedicated bikeways
VIBRANT BUSINESS ENVIRONMENT ■ The Bellevue CBD is in the midst of the largest
economic expansion in its history. ■ 136,000 professionals commute into the city daily. ■ Numerous office, residential and hotel towers are in
the planning and permitting stages to meet the high demand for downtown accommodations.
TECHNOLOGY HUB ■ Bellevue’s Global Innovation Exchange (GIX), sponsored
by Microsoft, the University of Washington, and Tsinghua University of China, offers a combined international Master’s degree in Technology Innovation and built-in resource for critical industry talent.
DEMOGRAPHIC HIGHLIGHTS2017 Estimations
Total Population 140,700Median Age 38.2Total Households 58,293
Age Distribution 2014 Survey - Under 18 20%
- 18 to 44 40%
- 45 to 64 25%
- 65 & Over 14%
Education Distribution 2015 Survey - HS Diploma 9.7%
- Some College 15.1%
- Associate’s Degree 5.2%
- Bachelor’s Degree 37.4%
- Graduate Degree 28.2%
Household Income 2015 Survey - <$75,000 39%
- $75,000 - $99,999 12%
- $100,000 - $149,999 17%
- $150,000 + 33%
DATA OBTAINED FROM CITY OF BELLEVUE PLANNING AND COMMUNITY DEVELOPMENT
LEADER IN URBAN PLANNING ■ Meydenbauer Bay Park is currently undergoing a major
expansion. ■ The signature “Grand Connection” will be a marvel
of urban visioning that promotes placemaking and connectivity via a non-motorized pathway between the waterfront, parks, transit options and Bellevue Way.
REVENUE DRIVER ■ Bellevue is a regional-shopping draw, generating $518
million in sales tax in 2018. ■ Growing population earning high incomes translates to
greater customer base with more disposable income.
CULTURALLY DIVERSE ■ 39% of Bellevue’s population was born in a foreign
country according to the 2015 US Census. ■ 34% of the population is Asian, which is the tenth
highest percentage in the nation for cities with 100,000 population or more.
STRONG HOMEOWNERSHIP ■ Out of the estimated 58,293 households within Bellevue,
53% of homes are owner-occupied. ■ By 2035, there will be an estimated 70,300 households
within the city of Bellevue.
BELLEVUE FACTS
0 0 0 0
207,900
673,200
876,600
600,300
359,250
190,500
0
195,000180,000
14,200 17,750
196,500
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
2017 2018 2019 2020
Bldg
. SF
Office Multifamily Hotel Retail
BELLEVUE CBD DEVELOPMENT TIMELINE BY PROPERTY TYPE
ECONOMIC GROWTH SCENARIO (150 SF PER OFFICE EMPLOYEE) Year Office Jobs Retail Jobs Hotel Jobs Other Jobs Total Jobs Total Residents2017 54,423 8,920 628 1,336 65,354 14,5672018 61,013 9,504 775 1,409 72,653 16,2112019 62,180 9,482 779 1,483 73,875 18,3652020 63,013 9,861 839 1,553 75,217 20,5192017-2020 Change 15.8% 10.5% 33.5% 16.2% 15.1% 40.9%Annual Avg. Change 3.9% 2.6% 8.4% 4.1% 3.8% 8.2%
65,336
72,653
73,875
75,217
14,567
16,211
18,365
20,519
10,000
12,000
14,000
16,000
18,000
20,000
22,000
55,000
58,000
61,000
64,000
67,000
70,000
73,000
76,000
79,000
2017 2018 2019 2020
CBD
Popu
latio
n
CBD
Jobs
CBD Jobs CBD Population
BELLEVUE CBD TOTAL POPULATION VS TOTAL JOBS
DATA OBTAINED FROM THE FUTURE OF DOWNTOWN BELLEVUE, PUBLISHED JANUARY 2018
WE HAVE EVOLVED FROM PROJECT BUILDERS TO CITY BUILDERS, AND WITH THAT COMES A GREATER RESPONSIBILITY. WE PRIDE OURSELVES ON THE HOMES AND PROJECTS WE DEVELOP, BUT WE HAVE TO THINK BIGGER – BUILDING SUSTAINABLE, PEDESTRIAN-CENTRIC COMMUNITIES THAT SEAMLESSLY INTEGRATE PUBLIC SPACES, RETAIL, OFFICE AND RESIDENCES. HOMES INTEGRATED WITH PARKS, COFFEE SHOPS, OUTDOOR PLAZAS, GROCERY – THIS IS WHAT MAKES URBAN LIVING UNIQUE AND GUIDES OUR APPROACH TO DESIGN.
-RYAN BOSANAT BOSA FOUNDER AND CHAIRMAN, BOSA DEVELOPMENT RYAN BOSA PRESIDENT, BOSA DEVELOPMENT
ABOUT THE DEVELOPER (BOSA)
For over half a century Bosa Development has played a visionary role in raising the profiles, standards and skylines along the West coast from Vancouver to San Diego.
Approaching each new development with equal attention to form and function, they are recognized for creating peerless luxury living experiences with local distinction and exemplary quality.
PIER WEST - NEW WESTMINSTER
THE ROYAL - CALGARY
PACIFIC GATE - SAN DIEGO
LEASING AGENT
MARK C. ANDERSONSenior Vice President | Bellevue425.453.3117 | 206.850.3826 [email protected]
COLLIERS INTERNATIONAL11225 SE 6th Street | Suite 240 Bellevue, WA 98004www.colliers.com