Skanska Lands Legendary Lease

In one of the largest office leases in the Puget Sound area in recent years, Skanska has landed a long-term tenant for The Eight, a 26-story mixed-use development currently underway in Bellevue, Wash. According to The Registry, Pokémon has agreed to occupy 526,595 square feet, of which more than 374,000 square feet will be used as office space and about 152,300 square feet will be for parking.

The agreement accounts for 72 percent of the building’s space, marking the largest lease in the company’s history. Skanska broke ground on The Eight in June 2021 and celebrated its topping out in May 2023. The developer plans to complete the development in 2024, with Pokémon expected to take occupancy starting in January 2025.

The Eight totals approximately 729,000 square feet, including about 541,000 square feet of office space with average floorplates of 23,000 square feet. Skanska is constructing the building with 14-feet floor-to-floor heights and 10-foot drop ceiling with floor-to-ceiling glass. The Class A office tower’s common amenities will include a rooftop deck, ground-level plaza, fitness center, gathering space, seven private decks and as much as 9,147 square feet of retail space. Skanska will also include four levels of parking, which total approximately 152,000 square feet of space.

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“It’s an exciting time as The Eight delivers in 2024 and we feel fortunate that a number of different companies continue to show interest in The Eight,” Charlie Foushée, executive vice president & regional manager for Skanska USA Commercial Development’s Seattle region, told Commercial Property Executive. “We designed The Eight for companies re-envisioning how they work and to give people an environment they want to come back to.”

Skanska is targeting LEED Platinum, Fitwel and SmartScore certifications for The Eight, which has already achieved WiredScore Platinum and Salmon-Safe certifications. Foushée also told CPE that the building was designed to meet the demands of the modern workplace, offering flexible workspaces, ground-floor hospitality and competitive amenities.

Coast-to-coast developments

For Skanska, The Eight represents its largest single investment in its portfolio, while also being its sixth development in the Puget Sound region. Skanska first began operations in the Washington state market in 2011, with The Eight in downtown Bellevue marking its second project in the market.

On the other side of the U.S., Skanska is working on several projects outside of the office sector. In September, the company topped out its 240,000-square-foot development for New York City’s Public Health Laboratory that will include offices, lab space and clinical facilities. Prior to its New York City project, Skanska announced plans to build an approximately 398,000-square-foot research center for Simmons University in Boston. The university’s Living and Learning Center is scheduled for delivery in September 2026.