Private school signs big lease at Alexandria property in Bothell – The Business Journals

Listen to this article 2 min
The school has operated in Bellevue since 2021 and will expand to include high school classes.
A private school, Basis Independent Bellevue, is a new tenant at an Alexandria Real Estate Equities Inc. property on the Eastside.
Toby Walker, vice president of Basis Independent Schools — a national network of pre-kindergarten through 12th grade — on Wednesday confirmed the lease, which commercial real estate industry sources have been talking about since summer.
The lease comes as dozens of institutions of higher education across the United States have bought office buildings since 2018, according to a recent New York Times article, which cites data from real estate services company JLL.
In recently released reports, real estate services firms Savills and CBRE noted the Basis lease at Canyon Park Heights, 21540 30th Drive SW. CBRE pegged the lease at around 115,900 square feet, which Savills reported as 143,758 square feet.
Walker did not say how much space the school took. He added Basis would release information soon, and indicated design and construction teams have been hired.
Walker did not name members of the team, writing in an email, “We are set up and hired.”
A spokesperson for Bothell said the city has received a pre-application from Basis for construction at the property. Documents filed with the application were not immediately available. 
An online marketing flyer shows that Newmark brokers Joe Lynch, Dan Harden and Brendan Soelling are the Canyon Park Heights listing brokers. They did not immediately respond to texts.
Basis, which has operated in Bellevue since 2021, currently offers classes for students from the second through ninth grades. The school’s over 200 students share a campus on Fourth Avenue Northeast with the Jewish Day School of Metropolitan Seattle.
Basis Independent Bellevue’s website says it will expand through grade 12.
Basis Independent Schools are secular and educate students to “the highest international levels,” according to the Basis website, which adds the network’s 10 campuses are in some of “the most bustling, dynamic metropolitan areas in the country.” Among them are Silicon Valley and Manhattan.
2022-23 enrollment
© 2024 American City Business Journals. All rights reserved. Use of and/or registration on any portion of this site constitutes acceptance of our User Agreement (updated April 19, 2024) and Privacy Policy (updated December 19, 2023). The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of American City Business Journals.

source

(Visited 1 times, 1 visits today)