UW’s Global Innovation Exchange Vacates 96,000 SQFT in Bellevue’s Bel-Red for Rent-Free Microsoft Campus, Flipping Eastside Absorption Negative

The University of Washington's Global Innovation Exchange traded roughly 96,000 square feet of leased space in Bellevue's Spring District for a rent-free home on Microsoft's Redmond campus, a single move that pushed the Eastside office market into negative absorption in the third quarter and lifted the Bel-Red Road Corridor's vacancy rate above 30 percent.