Shorenstein Properties

Bellevue, Wash. — The specialty outdoor retailer REI Co-op has completed the disposition of its newly completed corporate campus in Bellevue’s Spring District. Facebook acquired the property for $390 million. Site developer Wright Runstad & Co. and Shorenstein Properties also purchased an undeveloped 2-acre portion of the property. Facebook’s acquisition includes the 400,000-square-foot campus and approximately 6 acres of land. In August, REI announced its intention to sell its Bellevue campus and shift to a more distributed work model. The co-op’s future “headquarters” will span multiple satellite locations across the …

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