The 19-story, Class-A office is scheduled to open in late 2025
SEATTLE — May 24, 2022 — Schnitzer West, LLC (Schnitzer West), one of the West Coast’s leading real estate investment, development and property management companies, today announced The Arcadian, a 19-story Class-A office building in downtown Bellevue, Wash. The new development, which will feature 458,000 square feet of rentable space, is expected to break ground in Q3 2023, with delivery in Q4 2025. Last week, Schnitzer West hosted an open house for commercial real estate brokers who were invited to learn more about The Arcadian and the recently announced Interval on Mercer (Interval) development in Seattle.
Boasting expansive views of Lake Washington, the Olympic and Cascade Mountains, and Mt. Rainier, The Arcadian is ideal for tenants searching for Class-A office space in Bellevue’s central business district. The building will be located at 120 106th Ave NE, just two blocks from Main Street’s restaurant, retail and residential core. With an estimated 5,000 square feet of ground-floor retail space available, retail tenants will be centered in Bellevue’s thriving business hub.
“Downtown Bellevue continues to show an increasing demand for desirable, modern office space with amenities that offer an enhanced, worker-friendly experience,” said Erik Fagan, senior investment manager at Schnitzer West. “The Arcadian is a continuation of Schnitzer West’s 25-year history in Bellevue and will be the company’s sixth office project in the city’s commercial business district, bringing a total of 2.5 million square feet of office development to the area.”
The building will feature several premium amenities, including a fitness center with locker rooms, bicycle storage, private conference rooms, executive conference rooms, and Schnitzer West’s signature Great Room. In addition, the building is being designed to offer multiple outdoor terraces for tenants and visitors to enjoy scenic views and host meetings or other events. The Arcadian also provides enhanced walkability through the use of an open-air pedestrian plaza that connects 106th and 107th Streets.
Being situated in downtown Bellevue means Arcadian tenants can commute to the office by car, bike, light rail, bus or walking. The Arcadian is within walking distance of public transportation hubs, including the Bellevue Transit Center and both downtown Bellevue Light Rail Stations. On-site parking will also be available at The Arcadian, with an average of 2.5 parking spaces for every 1,000 square feet of space.
First announced in December 2021, Interval is a living-building office complex that will be developed on an entire city block adjacent to Mercer and Roy Streets in Seattle. Comprised of two eight-story Class-A office buildings, Interval on Mercer will achieve the ultra-sustainable Living Building Challenge certification while offering a full array of premier tenant-focused design elements typically found in Schnitzer West’s developments. As part of its sustainability commitment, Interval on Mercer’s roof will capture rainwater and solar energy, prioritize the use of local and ecologically restorative materials throughout the site, and remain carbon-neutral to meet stringent energy targets.
About Schnitzer West, LLC
Schnitzer West, LLC, is one of the West Coast’s fastest-growing real estate investment, development, and property management companies. Founded in 1997 by managing investment partner Dan Ivanoff of Seattle and Schnitzer Investment Corp (now MMGL Hold Co LLC.), the company has built a successful track record in the commercial and multi-family housing markets through product innovation, disciplined management, and investment expertise. Known for its commitment to “Outperform the Expected,” Schnitzer West has earned recognition for creating innovative workplaces and living spaces, for delivering superior-to-market returns, and for its value-creation approach to property management. To date, it has developed or repositioned more than 11.4 million square feet of Class-A office and suburban office, flex, industrial and bio-tech space, mixed-use, and luxury multi-family residential condominiums in Seattle, Portland, and Denver. Currently, its Asset Operations group actively manages 3.7 million square feet of office and industrial property for various clients. Building on its success in the Northwest, Schnitzer West owns additional properties in Denver and is exploring new market opportunities across the Western United States.