Construction Commences on Summit 3 Office Development

(BELLEVUE, WASHINGTON) – Hines, the international real estate firm, announced today that construction has commenced on Summit 3, a 374,220-square-foot, 17-story Class A office building in Bellevue, Washington.

With a design team consisting of LMN, Magnusson Klemencic Associates, ME Engineers, Berger Partnership, Pace Engineering Services and Hines Conceptual Construction Group, the development will be built to optimize a new design for high-density technology firms and has already been fully pre-leased to an undisclosed tenant.

Located at the corner of 108th Avenue NE and NE 4th Street, Summit 3 will be constructed on top of an existing seven-story subterranean parking garage. The project will showcase full-height 9’10’’ windows, achieving 50% more exterior glazing than under the Washington State prescriptive energy code, maximizing excellent natural light and magnificent mountain views. Simultaneously, the design exceeds Washington State Energy Code performance by 15% while utilizing traditional, electric, VAV boxes for cost-effective tenant build-out, increasing the building by two floors over the prior design, increasing floor loading in select areas for amenity spaces, increasing elevator capacity by adding three elevators and increasing restroom fixtures by one over the code. The building is pre-certified LEED v4 Gold and has also been certified as Designed to Earn the ENERGY STAR.

Ty Bennion, senior managing director at Hines, said, “We are thrilled to announce this exciting milestone for Summit 3. The project will set a new standard for quality in the market by offering unrivaled natural light from its 9’10” floor-to-ceiling glass, while still providing superior energy performance. Its innovative design and rich amenity offering will support our tenants’ evolving needs.”

Summit 3 will be the third building in The Summit portfolio. On-site amenities include The Summit Room, a signature space that combines the functions of a lobby, building lounge and meeting area, a state-of-the-art fitness center, a conference center, Café Pogacha restaurant and Bright Horizons child care facility.

Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 214 cities in 24 countries. Hines has approximately $120.6 billion of assets under management, including $66.5 billion for which Hines provides fiduciary investment management services, and $54.1 billion for which Hines provides third-party property-level services. The firm has 128 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,348 properties, totaling over 444 million square feet. The firm’s current property and asset management portfolio includes 512 properties, representing over 223 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.