TikTok Adds 150 KSF to Seattle Footprint

June 25, 2024

Brokerage News Office Seattle More West

The social media platform will occupy another seven floors at this office tower.

Social media giant TikTok has expanded its office footprint in downtown Bellevue, Wash., by an additional 150,000 square feet, The Registry reported.

The tenant, owned by Beijing-based ByteDance, will occupy seven floors at Lincoln Square North Tower, an office building where it had already committed to 132,000 square feet across six floors in January.

Microsoft had previously occupied the space, alongside another 13 floors at the 27-story tower. The company relinquished the offices in December 2023, according to the Downtown Bellevue Network.

ByteDance expanded its presence in another Bellevue building as well in the first quarter of this year. The company leased some extra 45,000 square feet at Key Center, where it already occupied some 110,000 square feet.

Seattle’s office market has shown signs of improvement, particularly in the case of completions—as 2.5 million square feet came online in the first four months of the year. Current economic conditions have affected U.S. tech markets, leading rises in vacancy—in Seattle, the rate was up 400 basis points year-over-year through April.

High-rise near downtown Seattle

Lincoln Square North Tower came online in 2005. The 550,000-square-foot, Class A building became subject to a $220 million loan in 2015, originated by TIAA Insurance Bank, with a maturity date set for 2025, according to CommercialEdge data.

The high-rise features three floors of retail, 22,000-square-foot floorplates, eight passenger elevators, along with 1,424 car parking spaces. Amenities include a workout facility, a swimming pool, bike lockers, shower facilities and six electric charging stations, among others.

Located at 700 Bellevue Way NE, the property provides access to interstates 90 and 405, U.S. Route 520, as well as to the Bellevue Transit Center. Downtown Seattle is some 10 miles away.