Patrinely Group, Dune Real Estate Partners Buy Development Site for Office Tower in Downtown Bellevue, Washington

by Amy Works

BELLEVUE, WASH. — Patrinley Group, in partnership with affiliates of Dune Real Estate Partners, has acquired a fully entitled development site for a 484,000-square-foot office tower in downtown Bellevue. The joint venture purchased the 0.9-acre site with an advanced building design from an affiliate of FANA Group of Cos. Terms of the transaction were not released.

Located at the southeast corner of NE Fourth and 106th Avenue NE, the 21-story FOUR106 office building will feature 480,000 square feet of office space and 6,500 square feet of street-level retail space. Additionally, the tower will offer a fully equipped fitness center with shower and locker facilities, tech capabilities, hands-free elevators and hands-free restrooms. The property has also been designed to meet LEED Gold standards.

Construction is slated to commence this spring, with delivery scheduled for fourth-quarter 2024.

FOUR106’s project team includes CollinsWoerman, Gensler, Mortenson Construction and DCI.

Paul Sweeney, Jason Furr and Colin Tanigawa of The Broderick Group will handle leasing for the completed project. Kevin Shannon, Ken White and Tim O’Keefe of Newmark represented the seller in sale of the site. Bill Fishel, Tom Wilson and Rachael Lewis of JLL arranged financing for the project.

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