Properties
CIVICA Office Commons
Bellevue, WA
CIVICA Office Commons
Overview
Civica was built in 2001 and is clearly the premier product in Bellevue. Bellevue is a 6.0 million square foot market within the Eastside market. The Class A vacancy rate in Bellevue is currently 6%, whereas the market was roughly 15% vacant 24 months earlier. Bellevue is adjacent to Redmond which is home to Microsoft. Microsoft has recently recommitted itself to Redmond which will result is a significant expansion of its campus. However, Microsoft's continued growth has fueled the growth of many other technology related firms within the Eastside market. In addition, the wealth within the Eastside market has fueled the expansion of many banks and money management firms, all which desire a presence in Bellevue.

The market is experiencing a major transformation as many new luxury high-rise buildings can be seen across the Bellevue skyline. Brickman believes that rental rates will increase substantially and Civica will continue to command the highest rents in the marketplace. New supply is on the horizon but recent projects have been fully leased before completion.
Description
Civica is a 305,835 rentable square foot office building which opened in 2001 that is 100% leased to nationally recognized credit tenants, including Microsoft, Morgan Stanley, Anheuser-Busch, MetLife and Wells Fargo. CIVICA is also enhanced by five-and-a-half levels of modern and secure parking that contain 1,160 leased spots. The parking ratio of 3.8/1,000 exceeds most other buildings in the market. The two buildings are connected by a "Great Room" which includes a fireplace, Starbucks and many informal, comfortable seating areas. The Great Room was designed by Chhada, Siembieda, Remedios, a well-recognized hotel architect. Civica offers all amenities desired by tenants including a conference center, fitness center, ATM, direct access to the parking and a valet parking service. The property is also home to SeaStar Restaurant, which is one of the premier restaurants within the Eastside market.
Results
CIVICA Office Commons is 100% leased to nationally recognized credit tenants.