Facebook will buy REI’s unused headquarters complex in Bellevue



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Fb will salvage REI’s so-unusual-it’s-by no manner-been-traditional Bellevue campus for close to $368 million, the social media large announced on the present time.

The skedaddle additional consolidates Fb’s Eastside mini-empire in the upscale, multiuse Spring District east of I-405. Ahead of the acquisition of the 400,000-sq.-foot REI places of work, Fb modified into once already on target to raise nearly 850,000 sq. ft in three Spring District buildings.

The firm, which opened its first Puget Sound inform of work in 2010 with three engineers, now employs extra than 5,000 local workers in dozens of areas in Seattle, Bellevue and Redmond, placing it neck-and-neck with Google for the title of the house’s largest out-of-town tech employer. The Seattle house is house to Fb’s 2d-largest inform of work footprint, after its Menlo Park headquarters.

“Our boost over the last decade is a testomony to the thriving community and pleasurable expertise pool that has welcomed us with begin palms,” acknowledged Sever Raby, Fb’s director of North American accurate property, in an announcement. “This exhaust doubles downs on our funding in Bellevue and our commitment to the Pacific Northwest.”

The deal indicators that there may maybe be “no single manner” for white-collar employers envisioning the manner forward for inform of work house as work-from-house regimes stretch into their seventh month, acknowledged Greg Johnson, the CEO of Spring District developer Wright Runstad & Company.

REI decided to let its three-constructing Spring District campus skedaddle after the pandemic battered sales, main the exterior equipment retailer to pause that it couldn’t salvage the money for no longer to sell the house. The firm’s work-from-house program additionally proved to be surprisingly a success, acknowledged Ben Steele, REI’s chief buyer officer. REI will depend extra carefully on distant work and smaller satellite places of work.

Other employers maintain doubled down on places of work. Amazon no longer too prolonged in the past announced it plans to raise nearly 2.75 million sq. ft of Bellevue inform of work house by 2025. And for Fb — which expects half of its workers to work remotely by the tip of the last decade — “the firm’s places of work are quiet vitally crucial to attend accommodate anticipated boost and meet the wants of our workers that need or exhaust to work from campus,” acknowledged spokesperson Tracy Clayton.

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