Uber has signed a lease at the Four106 office tower at 360 106th Avenue NE in Downtown Bellevue, becoming the latest company to snap up office space and bring new jobs to the area.
The lease adds 170,000 square feet to Uber’s local footprint, bringing its total space across Bellevue and Seattle to more than 285,000 square feet.
Four106 was an attractive fit for several reasons. The building sits roughly half a mile from Bellevue’s downtown light rail station and is one of the few properties downtown still offering large blocks of available space.
The Uber lease reflects a broader shift in the Bellevue office market. While the city was long anchored by a handful of large employers like Amazon and Microsoft, a growing number of AI and tech companies have moved into the area. OpenAI, for example, signed a 250,000-square-foot expansion lease at the end of 2025.
Demand has grown, and as a result, supply has tightened. No new office deliveries are expected in 2026, which would mark the first year in a decade without at least one completed project.
With fewer top-tier options available, prospective tenants are adjusting their search. Companies are increasingly considering lower-floor units, mid-range buildings, and suburban spaces that might have been passed over during the recent construction boom.
Bellevue’s office vacancy rate is forecast to fall below 20% within a year, and with limited lease expirations and minimal new supply on the way, the market appears to be past peak vacancy. By most measures, Bellevue’s office market looks to be in the early stages of recovery.
This post was based on information found on The Downtown Bellevue Network and The Downtown Bellevue Network.
Photo credit: Patrinely Group.
