Since 2021, the city’s office footprint has grown by nearly 3.9 million square feet, surpassing Seattle’s 2.6 million square-foot increase during the same period. The shift reflects a broader trend. As Seattle grapples with rising business taxes, safety concerns, and a persistent homelessness crisis, many companies are looking across Lake Washington for stability.
Amazon’s 2019 decision to shift thousands of employees to Bellevue followed Seattle’s proposal for a $275-per-person head tax on large companies. Though the plan was ultimately repealed, it marked a turning point. From almost no presence a decade ago, Amazon now employs more than 14,000 workers in Bellevue, a number projected to surpass 25,000 in the coming years.
The pandemic brought additional deterrents for Seattle businesses. As COVID-19 disrupted core business districts and public safety concerns grew, companies like Meta began expanding their Eastside footprints. Meta alone has acquired more than 400,000 square feet of Bellevue office space.
For decades, Seattle represented the region’s economic engine and social heartbeat, known globally for its innovation, nightlife, and culture. Today, Bellevue’s appeal lies in its livability: top-rated schools, safer streets, and proximity to Seattle without many of its growing pains.
That appeal comes at a premium. Office space in Bellevue now averages $64 per square foot, compared to $51 in Seattle. Yet demand remains high, with companies willing to pay more for newer buildings, shorter commutes, and a cleaner urban environment.
Despite Bellevue’s rapid rise, Seattle remains home to many of the region’s most influential corporations, including Starbucks, Nordstrom, Weyerhauser, F5, and Expedia. Bellevue, meanwhile, boasts its own corporate heavyweights such as Costco Wholesale, Paccar, Expeditors International, and Puget Sound Energy.
While Seattle continues to serve as the cultural and economic core of the Pacific Northwest, Bellevue’s ongoing expansion underscores a new balance of power across Lake Washington. Like other great urban centers, Seattle can regain its allure if it addresses the challenges driving businesses away. For now, though, Bellevue is enjoying its moment in the spotlight.
This post was based on information found on The Seattle Times and The Wall Street Journal.
