With Facebook’s new move to South Lake Union it will more than quadruple its current Seattle office space. Facebook has agreed to rent 8 out of the 10 floors in the new Dexter Station building located at 1101 Dexter Ave. N. With over 280,000 ft.² of space, this new facility is 4 1/2 times what Facebook currently occupies in the Denny Triangle neighborhood. These eight floors can accompany 2000 new employees. Regardless of the new space, Facebook is assuming they will need even more space, signing an option to take over the remaining two floors if necessary, however this is simply speculation as Facebook spokes people and one of the developers of Dexter Station refused to comment on the intended option.
Developers of the Dexter Station have also signed new leases with Weyerhaeuser, which is moving its headquarters to a new 180,000 ft.² building in Pioneer Square. The Seattle based Capstone Partners made a $136 million gamble two years ago when they broke ground on Dexter Station as it was not leased at the time. Now, the company could sell the leased building for a hefty profit having Facebook, a $212 billion company, taking up the majority of the space.
The Dexter Station is the second major office deal in just over a month in the South Lake Union area. Additional development is underway including more than 1000 new apartments and several residential buildings. One of the Northwest’s largest locally based insurance companies, Pemco, stated it would be buying the former Casey Family Programs Building at 1300 Dexter Ave. N., moving its 350 employee headquarter operation to the new 80,000 ft.² building in 2015.
For more information on South Lake Union real estate, condos and available properties in this area please contact Mary Pong with Better Properties Seattle. Mary would be honored to send you a list of homes and real estate that meet your search criteria and price in South Lake Union and surrounding Seattle suburbs.
By Robert Scheuerman (Own work) [CC BY-SA 3.0 (http://creativecommons.org/licenses/by-sa/3.0) or GFDL (http://www.gnu.org/copyleft/fdl.html)], via Wikimedia Commons
Amazon, one of Seattle’s leaders in economic drive, is not just to creating jobs in their own sector but has created over 28,000 additional non-Amazon jobs in Washington state alone. Since the company moved to the South Lake Union neighborhood eight years ago, it has transformed to the community resulting in a $5 billion windfall for the region in 2014 alone. Jeff Wilkey, Amazon senior vice president of consumer business states that “employees and those employed as a result of the company’s urban location contributed over $400 million in tax revenue to Washington state.” [Source]
This is an interesting realization even though Amazon has been criticized for not being as involved in the local community as similar companies in Washington and Seattle. However, Amazon has recently tried to make itself more visible to the community over the last six months. Amazons global real estate chief John Schoettler recently became the cochairman of the Seattle Metropolitan Chamber of Commerce. This is the type of non-Amazon job growth taking Seattle by storm.
Boeing and Amazon has accounted directly and indirectly for more than 40% of the jobs created in the Puget Sound region for the last five years according to the city of Seattle.
South Lake Union continues to be transformed as the northeast corner of Boren Avenue and Thomas Street has expanded the nearly 400,000 square-foot South Tower of the Troy block complex as an ongoing campus expansion from their existing building at 333 Bourne Ave. In addition to these expansion, Amazon expects its employees to venture outside the building and patronize local establishments for lunch, which has resulted in new restaurants and significant growth in this neighborhood.
For more information on the South Lake Union neighborhood, job growth and Seattle companies in general, feel free to browse the website or contact Mary Pong with Better Properties Seattle for homes and real estate in the Seattle area.
Salesforce.com has recently announced it will be leasing a Bellevue office space and has proposed plans to double its local workforce. The San Francisco-based company will expand to the Seattle area creating one of the largest engineering centers outside of the bay area. [Read more…] about Salesforce to Expand to Bellevue Washington