New Tower Offers an Array of Environmental and Worker-Friendly Amenities
BELLEVUE, Wash., (June 23, 2021) — Schnitzer West, LLC (Schnitzer West), one of the West Coast’s leading real estate investment, development and property management companies, today announced the groundbreaking of The Artise, a 25-story Class-A office tower at the corner of NE 8th Street and 106th Avenue in downtown Bellevue. The new 600,000 square foot development has been designed to meet LEED Gold v4 standards and is scheduled to open in the fourth quarter of 2023. In Bellevue alone, Schnitzer West has developed eight office buildings totaling more than two million square feet.
The Artise offers several amenities for greater comfort, ease and enjoyment, such as covered and open-air public plazas. Other features include ground-level retail, a nearly 1,000-space parking structure andelectric vehicle charging stations. It’s also close to public transportation and boasts a woonerf—a “living street” along the building’s the south side, primarily for pedestrians and bicyclists.
“This tower is more than just an office building,” said Pam Hirsch, president and chief operating officer at Schnitzer West. “It’s a continuation of our longstanding commitment to Bellevue’s growth and development. We’ve been investing here for nearly 25 years, and we’re pleased to be part of its future.”
The Artise’s environmentally friendly design is in line with The Climate Pledge, and incorporates smart equipment, health-conducive materials to improve indoor air quality, and natural ventilation using operable windows. It seeks to exceed energy code standards by 20%, targeting a 100% electric energy goal. Construction will also pursue sustainable waste-diversion goals.
A full-building pre-lease for The Artise has been secured by a major corporate tenant. That same corporate tenant has leased three of the last four buildings Schnitzer West has developed in the Puget Sound since 2016, including Centre 425, which was the tenant’s first full-building lease in Bellevue.
In addition to The Artise, Schnitzer West is developing a sustainable building in Seattle’s Uptown neighborhood as part of the city’s climate programs, “Living Building and 2030 Challenge Pilots.” Schnitzer West is committed to sustainability and is supporting Seattle’s objective to become a carbon neutral community by 2050.
The company’s active projects include The Artise in Bellevue, 570 Mercer in Seattle, and The Current and Westray in Denver, among others. Since its inception in 1997, Schnitzer West has developed and repositioned 10.7 million square feet across a variety of property types in the Puget Sound, Portland, and Denver markets. Today, the company has 850,000 square feet currently under construction, another 1.7 million square feet in pre-development, and 3.1 million square feet of Class-A office, flex, and industrial buildings under management in the Seattle and Denver markets.
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 10.7 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 3.1 million square feet of office and industrial property for a variety of 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.