October 18, 2005
Seattle Daily Journal of Commerce
Schnitzer updates its plan for office/retail megaproject
By Journal Staff
Schnitzer Northwest officials said construction of their downtown Bellevue megaproject—newly named The Bravern—could start without preleasing.
Yesterday the Bellevue-based company unveiled the name and updated plans for the office and retail project at Northeast Eighth Street and 112th Avenue Northeast. It will be on the same block as the Meydenbauer, Bellevue's convention center. The developer estimated the value at $400 million.
Construction is scheduled to begin next summer and finish in the fall of 2008. Skanska of Seattle is the general contractor.
Some of the Bravern's features will be similar to Civica Office Commons, another Bellevue project that Schnitzer developed and sold for a record price. Civica introduced such amenities as a "great room" lobby, which the Bravern will also have. Executives of Schnitzer Northwest and Callison Architecture said they toured 28 cities around the world to get ideas.
It will also have 14 conference and meeting rooms, a board room, spa and fitness center and a business center. There will be an arrival court and open-air plaza.
Storefronts will line a pedestrian-friendly streetscape, with outdoor "rooms" and seating areas, a 17-foot-high waterfall, a stone sculpture centerpiece, and an outdoor fireplace.
The Bravern Office Commons will total 745,000 square feet. The first building has 248,000 square feet on 12 floors. The second will be 497,000 square feet and reach 23 stories.
Bill Pollard and Jeff Durrell of Pacific Real Estate Partners are the leasing agents.
A Schnitzer official said construction is not dependent on preleasing: "We own the land. We expect building permits by February 2006. We plan to begin construction by summer of 2006."
The Shops at the Bravern will link the office buildings, with 130,000 square feet of stores and restaurants. They'll line the plaza and front on 112th and 110th avenues northeast and Northeast Eighth Street.
Susan Zimmerman of GVA Kidder Mathews in Seattle and Wendy Silverman of Creative Retail Leasing of Chicago are marketing the space.
Schnitzer officials say a second phase could be built later on 2 acres that now house the Raymer Building.
The development company said it has received inquiries from developers who want to partner with it on that property, building residential above a commercial base.
