SEATTLE, WA (October 2, 2018) – Rad Power Bikes has leased 26,457 square feet of the West Woodland Business Center, a new four-story, 72,000 square foot industrial flex building, located at 1128 NW 52nd Street in the Ballard neighborhood north of downtown Seattle. West Woodland Business Center will serve as Rad Power Bikes’ new international headquarters, Seattle retail store and local warehouse. Bryan Hester, Vice President at CBRE’s Seattle office, represented the developer Avenue 55 in the lease, which will take effect in January of 2019. Rad Power Bikes is planning to host a grand opening celebration when they move in.
Rad Power Bikes is a direct-to-consumer electric bike company that was looking to combine their multiple Ballard properties into one location. As leaders of the sustainable transportation movement, the company has expanded exponentially since launching in Seattle in 2015. Their team has grown by 150% since January 2018 alone. Rad Power Bikes is currently leasing three locations for their office, retail and warehouse, and will now be able to consolidate under one roof.
“Our company has grown so fast that we’ve had to move locations three times within the past three years, but still needed a more permanent home that fit our team, operations and culture. We finally have a space that is built around us, and not the other way around,” said Mike Radenbaugh, Co-Founder and CEO of Rad Power Bikes. “And yes, there will be covered electric bike parking with charging stations!”
“This transaction points to an emerging trend of industrial and office hybrid space. West Woodland Business Center was designed for tenants that need a blend of both office and industrial space, due to the range of their functions. West Woodland Business Center boasts high ceilings, ample power, abundant natural light with flexible floor plates and freight elevator service, making it an attractive solution for businesses who do not find traditional office or warehouse buildings suitable,” said Bryan Hester, Vice President, CBRE.
West Woodland Business Center is now 50 percent pre-leased with delivery scheduled for January of 2019. Other tenants include an expansion of Stoup Brewery. More information about West Woodland Business Center and local developer Avenue 55 can be found at www.westwoodlandbc.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About Rad Power Bikes
Rad Power Bikes is North America’s largest and most trusted electric bike company. They are bringing practical and fun alternative transportation options to the masses. The company was born in rural California in the summer of 2007 when the founders launched their first ebike prototypes. In 2015, after noticing that it was nearly impossible to find an affordable, high-performing ebike through traditional bicycle shops, they began selling their own models directly to consumers. Since then, they have been at the forefront of sustainable electric vehicle development and accessibility, and in 2017 were named to Forbes and Inc. Magazine’s “30 Under 30” lists, and the Entrepreneur 360™ list. Based in Seattle, Vancouver, and Utrecht, Netherlands, the team of passionate ebike enthusiasts, product designers and entrepreneurs create ebikes that are built for everything and priced for everyone.
