This is the second major South Florida multifamily acquisition by an out-of-state investor in less than two weeks. All rights reserved. The company’s work-from-home program also proved to be surprisingly successful, said Ben Steele, REI’s chief customer officer. All rights reserved.

The top election official says security is the priority, not speed. "In the second quarter of 2020, we added a record 4,200 net new employees and now have more than 52,000 employees. As a result, Steele said Wednesday, REI “started to accelerate our mobile working capabilities over the last couple of years.” Those moves, he said, “positioned us well for this moment.”, Steele said the campus decision says less about the Spring District location than about the company’s current circumstances. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors.

BELLEVUE, WA—Facebook has purchased REI’s newly-completed 400,000-square foot corporate campus in the Spring District submarket for $390 million. Davie Apartments Sell for $79M to Denver Group, Unlimited access to GlobeSt and other free ALM publications, Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications, 3 free articles* across the ALM subscription network every 30 days, Exclusive discounts on ALM events and publications. Wright Runstad & Co., which developed the headquarters as part of its Spring District in Bellevue. However, citing the pandemic that challenged the company to "reexamine and rethink every aspect of our business," the co-op announced in August its intention to "lean into remote working" for corporate employees. SEATTLE — Facebook will buy REI’s new and unused Bellevue campus for nearly $368 million, the social media giant said on Monday. For now, he wrote, REI expects most headquarters employees to work from home for the rest of this year and into 2021, and would make working … Already have an account? REI decided to sell its campus after the coronavirus pandemic hammered sales, leading the outdoor equipment retailer to conclude that it couldn’t afford not to sell the space. REI Co-op has announced plans to sell its newly completed corporate campus in Bellevue, WA. That places it alongside Google as the area’s largest out-of-town tech employers. The 400,000-square-foot campus on about six acres of land "represents a positive return on the co-op's investment in the property and will enable important investments in REI's customer-facing innovations, its nonprofict partners, and carbon reduction goals," REI said in a statement. Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business. REI’s 1,200 headquarters employees have been working remotely since March 2 as the company has navigated the onset of the pandemic, the March … The 400,000-square-foot campus was completed in the Spring District neighborhood before REI decided to decentralize its headquarters in August and still close the Kent space. BELLEVUE, WA—Facebook has purchased REI’s newly-completed 400,000-square foot corporate campus in the Spring District submarket for $390 million. But Facebook has been adding staff throughout this year and adding office space along with them. Anchorage updated its COVID-19 emergency orders.

Lawmakers aren't so sure, Zuckerberg struggles to explain whether Facebook fact checks political ads, Watch Zuckerberg react when a lawmaker compares him to Trump, This is how Facebook kills its competition, It took Facebook 15 years to take over the world. 1 Zags: Gonzaga begins season atop Top 25 for first time, Biden to defend Affordable Care Act in Tuesday speech, US allows 1st emergency use of experimental COVID-19 antibody drug, citing the pandemic that challenged the company to. But the pandemic has pushed REI to rethink both where its employees work and how much capital it can afford to sink into a single asset, said Ben Steele, REI’s chief customer officer, who has led the headquarters design.

Adult and child injured after being struck by a vehicle in downtown Anchorage, police say. Most stock quote data provided by BATS. REI’s 1,200 headquarters employees have been working remotely since March 2 as the company has navigated the onset of the pandemic, the March 16 closure of its more than 160 retail sites and a dramatic decline in revenue. "In order to address our rapidly growing workforce, we continue to make investments in physical office locations," said a statement from Facebook. Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. The company, which opened its first Puget Sound office in 2010 with three engineers, now employs more than 5,000 workers in dozens of locations in Seattle, Bellevue and Redmond. BELLEVUE, Wash. — What would have been REI Co-op's new headquarters in Bellevue will become additional space for Facebook. Facebook, which is based in Menlo Park, California, already had three other buildings under development in the same business district as the REI site. Based on the estimated cost of development, REI nearly doubled its investment with Monday's sale of the cooperative's new Bellevue headquarters to Facebook.

Here's how, half of Facebook's employees permanently working remotely.

Alaska has the slowest ballot-counting process in America. It is expected that for 2021, 80% of the properties will likely have tax appeal merit. Recreational Equipment, Inc., commonly known as REI, is an American retail and outdoor recreation services corporation. Winter snowpack starts accumulating in Cascades this week, Washington officials, beekeepers hope hive traps help against Asian giant hornet threat, Mariners center fielder Kyle Lewis wins AL Rookie of the Year award, No. Most notably, increased operating expenses and reduced cash flow. But some other tech companies are pulling back on office space plans, despite their own growth. "An internal employee survey the company fielded in May showed that approximately 65% of Facebook employees were eager to return to the office as soon as possible," Facebook said.

Facebook's update suggests the rules don't take effect until late October. (Alan Berner/Seattle Times/TNS). SEATTLE -- In yet another sign of COVID-19′s disruptive impact on business, REI is abandoning its nearly completed corporate campus in Bellevue and spreading headquarters operations to multiple sites across the Seattle area. Your article was successfully shared with the contacts you provided. Yet REI’s decision to sell its Bellevue campus shows how fast plans can change during a pandemic.

Discover how automation solutions could cut your contingency fees by up to 90% and save you thousands. The deal signals there is “no single approach” for white-collar employers envisioning the future of office space as work-from-home regimes stretch into their seventh month, said Greg Johnson, the CEO of Spring District developer Wright Runstad & Company. Notifications can be turned off anytime in the browser settings.

“The goal is to create max flexibility so employees can interact with our physical office space in whatever way works best for them,” spokesperson Halley Knigge said. Following REI’s announcement that it would not move headquarters to Bellevue from Kent, as previously reported, the company announced Sept. 14 that Facebook has bought …

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