Her Interactive Expanding, Relocating Headquarters

BELLEVUE, WA-Her Interactive is moving and expanding its headquarters. Upgrading from 2,800 sf in the 520 Corridor on the north side of Bellevue, the creator of CD-Rom games aimed at females has signed a lease for 7,100 sf at the Bellefield Office Park on the south side of the Bellevue CBD.

Her Interactive’s growth was sparked in part by the release of a series of CD-Rom games based on the Nancy Drew children’s book series. The company’s broker in the transaction, Jeff Chaney tells GlobeSt.com that the move is occurring in part because the company’s existing landlord was unable to accommodate the company’s expanding needs, and partly to gain additional amenities, such as a conference room, a workout facility and nearby eating establishments, says Chaney. “They’re definitely upgrading by taking advantage of the market,” says Chaney, who works out of the Bellevue office of Insignia Kidder Mathews.

Her Interactive will move out of the Mt. Pacific Building and into the Conference Center Building at Bellefield in August. The Conference Center Building, a two-story wood-frame, is one of the nicer buildings in the park. Chaney declined to provide the lease specifics on the Her Interactive deal, but local brokers familiar with the park say effective full-service lease rates are in the $20 per sf range (in lieu of free rent) and owner concessions typically include turnkey tenant improvements.

Bellefield is a 15-building, 465,000-sf office park owned by Equity Office Properties Trust. EOP broker Sharon Johnson was not available for comment Wednesday. According to Officespace.com, there is currently 84,000 sf of space available in the park. Listed triple-net asking rates are $12 per sf per year.

“It’s still a tenant’s market and there’s not a lot of positive net absorption occurring,” says Chaney. “There’s a fair amount of activity for smaller deals, but the larger deals are taking a while; there’s just no sense of urgency.”