By Meghan Hall
The confidential tenant of a 77,000 square foot lease in Bellevue–one of the largest of the first quarter–has been revealed. According to industry reports, Snap Inc., the parent company of popular tech platform Snapchat, has signed up to take space at Mid Station Bellevue. The lease was first listed in Broderick Group’s latest commercial real estate report, with tenancy confirmed by the Puget Sound Business Journal.
Mid Station Bellevue was formerly known as 110 Atrium and is owned by Unico Properties. Unico purchased the property in August of 2021 for $143.2 million from ScanlanKemperBard (SKB), according to previous reporting by The Registry.
The asset is located at 110 110th Ave. NE, right outside of Bellevue’s Central Business District. The Class A office building was originally constructed in 1981 and totals 235,000 square feet. Building amenities include an outdoor terrace, conference and board rooms, and a fitness center with showers and lockers. Tenants also have access to the on-site Avanti market, tenant event programs, and a third floor atrium with breakout space, lounge areas and Wi-Fi access.
Unico declined The Registry’s request for comment when asked about the lease. However, a marketing flier obtained by The Registry states that “Unico Properties is committed to elevating the tenant experience at 110 Atrium, and is in the early stages of developing a phased renovation plan to transform and energize the building.”
By the end of 2021, Snap Inc.’s leased portfolio totaled 1.4 million square feet of space, according to a recent SEC filing. Much of that space is concentrated in Santa Monica, Calif., where the company’s headquarters are located. There, Snap Inc. occupies about 603,000 square feet. The firm stated in its filings that generally, its facilities are sufficient for its current needs, and will think about expanding further if and when the need arises.