Cloud computing and data giant Snowflake confirmed that it will move into a new office in Bellevue, Wash., next year to support growth plans for its Seattle-area engineering center.
The company is leasing more than 326,000 square feet of space at the Block 6 building from Meta in the Spring District development.
The new building is a 10-minute drive away from the company’s current office in downtown Bellevue.
Snowflake first planted its flag in the Seattle region in 2017. The company now has more than 650 employees in the area. Total headcount at the company, which is headquartered in Bozeman, Mont., is more than 7,200 worldwide.
“With record growth plans for Bellevue set over the next 10-plus years, it’s time our space reflects our trajectory,” said Gjorgji Georgievski, director of engineering for Snowflake and site lead for the Bellevue office.
Meta in recent years gobbled up more than 1 million square feet of office space at the Spring District, including a building that was originally going to be a new REI headquarters. But it has subleased some of the space since then.
The Seattle-area office market saw an increase of 1 million square feet in leasing activity in the second quarter compared to the year-ago period, according to a new report from Savills. But overall availability continues to rise, reaching 27.7%, up from 25.1% in the second quarter of 2023.
Snowflake went public in 2020, raising $3.4 billion in what was the largest software IPO ever at the time.
The 12-year-old company reported revenue of $828.7 million for its quarter ending April 30, up 33% year-over-year. Shares are down more than 20% this year after its stock plunged following its earnings release in February.
Sridhar Ramaswamy took over as CEO earlier year following the retirement of Frank Slootman, who remains chairman.
Snowflake has been dealing with a recent hack against its customers.
Editor’s note: This story was updated to reflect that Snowflake is leasing the Block 6 building.
