Tesla To Open New Seattle-Area Office Location
Tesla plans top open a 32,338-square-foot new office space in Bellevue, Wash., according to the Puget Sound Business Journal. The company filed plans to renovate the space at Overlake 520, a two-building office campus totaling 145,578 square feet.
Innovatus Capital Partners owns the property, while CBRE is the exclusive leasing agent.
Tesla will take a first-floor space at the office campus’ East Building at 14475 NE 24th St., where filings show that two office suites will be remodeled, with plans to add a server room and EV charging stations.
Overlake 520 includes a pair of two-story office buildings, dubbed West and East, located at 14335 and 14475 NE 24th St. Completed in 1985 and last renovated in 2014, the properties feature two passenger elevators, a fitness center, outdoor seating area with collaborative spaces, property signage options and 582 covered parking spots.
The approximately 9-acre office campus is close to multiple bus stations and to the Overlake Light Rail Station, while being 5 miles from downtown Bellevue, 10 miles from Mercer Island, Wash., 15 miles from downtown Seattle and within 20 miles of Seattle-Tacoma International Airport.
Notable deals in the Bellevue submarket
Innovatus Capital Partners picked up the property in 2020 in a $63 million deal from seller Swift Real Estate Partners, according to CommercialEdge. CBRE’s team of First Vice President Lennon Atteberry, Executive Vice President Scott Davis and Senior Vice President Tim Owens are the leasing brokers in charge of Overlake 520.
Significant office leases closed in the city include Skanska’s 68,880-square-foot deal at The Eight, a 729,000-square-foot development in Bellevue. The tenant is an advertising technology company and is expected to move to the tower next year.
Another notable deal is TikTok’s 150,000-square-foot expansion in the same city, at the 550,000-square-foot Lincoln Square North Tower. The social media giant’s total footprint at the property is now 282,000 square feet.
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