(For more retail coverage, click GlobeSt.com/RETAIL.)

BELLEVUE, WA-Neiman Marcus will anchor a mixed-use development here with its first luxury fashion store in the Pacific Northwest. Neiman Marcus will occupy 125,000 sf on three floors at the corner of 110th Avenue NE and NE Eighth Street in Downtown Bellevue. The store’s grand opening is planned for March 2009.

The first phase of the Bravern will contain about 700,000 sf of office space in two towers, 300,000 sf of retail and underground parking for 3,200 cars. Completion is slated for mid 2008. A second phase will add a boutique hotel and 500 view condominiums in two towers.

The listing brokers for Bravern are Wendy Silverman of Chicago-based Creative Retail Leasing and Susan Zimmerman of Seattle-based GVA Kidder Mathews. The duo worked with Steve Quintin of Westfair Realty Advisors and Charlie Staadecker of Staadecker and Co. to secure the Neiman Marcus commitment.

Tom Woodworth, a partner in the project with Schnitzer Northwest LLC, tells GlobeSt.com that of the remainder of the retail space, about 185,000 sf will house smaller shops ranging in size from 2,500 sf to 12,000 sf or larger, with most being between 2,500 sf and 5,500 sf.

Retail will front Northeast Eighth and Northeast 110th, with some retail also accessible from two arrival courtyards. Retailers that have set up shop next to Neiman Marcus at other developments include luxury retailer like Louis Vuitton, Gucci, Burberry, and lifestyle retailers like Williams Sonoma and Tommy Bahama.

The general contractor for Bravern is Skanska. The architect is Seattle-based Callison. Bill Pollard and Jeff Durrell of locally based Pacific Real Estate Partners have the office leasing assignment. Woodworth declined comment on the status of the office leasing effort.

The Bravern will share a superblock with Meydenbauer (convention) Center. For much of 2004, Schnitzer Northwest had been negotiating a public-private partnership with the City of Bellevue for development of the site. In October 2004, Schnitzer Northwest principal Dan Ivanoff told GlobeSt.com that with the office market back in play, it was time to focus on that rather than continue to negotiate a public-private partnership for a major convention center headquarters hotel on the site.

The Bravern is Schnitzer’s first Bellevue development project since Civica Office Commons, a two-tower 305,000-sf development completed in 2001 and sold in March 2005 for $141 million or $462 per sf, a record price per sf in the Pacific Northwest. Civica was 100% leased (75% to public companies) at rental rates higher than most other existing buildings in Bellevue. In addition, Civica introduced amenities such as a lobby great room, advanced infrastructure and concierge services that will be replicated at the Bravern.

Now, 15 months after acquiring it, Investcorp International of New York has put Civica Office Commons back on the market. Holliday Fenoglio Fowler has the disposition assignment. HFF senior managing director Glenn Whitmore and managing director Andrew Scandalios will lead the effort. Schnitzer Northwest principal Dan Ivanoff tells GlobeSt.com that he wouldn’t be surprised to see it sell in the mid $500s per sf.

In addition to Bravern, Schnitzer Northwest is in for permits for a 575,000-sf office development along I-90 in Bellevue. Called Avanta, the three-tower development will be “quite a bit like Civica,” says Ivanoff.

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