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June 08, 2015

Tableau may be looking to more than double Puget Sound-area footprint

Puget Sound Business Journal

Marc Stiles

A year ago, many thought Seattle-based Tableau Software would need as much as another 225,000 square feet of office space. But now the company could take up to nearly twice that amount.

Based on past comments by Tableau officials, it's anticipated that the company will expand in Seattle's Fremont neighborhood, where it is headquartered, as well as on the Eastside, where Tableau already employes around 250 people in Kirkland.

Beyond that, little is known about where Tableau (Nasdaq: DATA) - one of the Puget Sound region's fastest-growing tech companies - might expand.

The company, which has nearly 2,200 employees worldwide, including about 1,300 in Seattle and Kirkland, last month had more than 600 open jobs, though it was unclear how many of those jobs are planned for the region. Tableau declined to comment last week on its real estate strategy

Having more employees means the company needs more space. One local commercial real estate brokerage, JLL, late last year reported that Tableau was looking for between 80,000 to 225,000 square feet. Since then, JLL has revised the amount of space it thinks Tableau is looking for to 200,000 to 400,000 square feet.

Currently, Tableau leases around 150,000 square feet of space in Fremont and nearly 24,000 square feet in Kirkland. Jeff Chaney, an Eastside real estate broker at a different company, Kidder Mathews, said the amount of space Tableau might take in Kirkland is going to depend on how much space the company can find around its Fremont headquarters.

Chaney said a logical place in Kirkland for the company to expand is the planned Parkplace project, a large mixed-use project with around 650,000 square feet of office as well as around 200,000 square feet of retail and entertainment space and a little more than 300 apartments.

Talon Private Capital, a Seattle company, and Prudential, are developing Parkplace, which is at Central Way and Sixth Street, next to Tableau's current office at 720 Fourth Ave.

Bill Pollard, co-founder of Talon, last week said Parkplace has no leases signed, though tenants are contacting his company to learn more about the project. Pollard declined to say what companies are interested in space at Parkplace.

In Seattle, another real estate developer, Touchstone, is building an office development called NorthEdge about a half mile east of Tableau's headquarters. In early 2014, Tableau Vice President of Human Resources Brett Thompson told the Business Journal that NorthEdge "actually might end up being a good solution for us."

Since then, another development group, CoU Limited Liability Co., has proposed building an office building across the street from Tableau's Fremont headquarters. Some members of the limited liability company helped Tableau expand recently by redeveloping the former Sound Mind & Body Gym in Fremont into 50,000 square feet of office, which Tableau now occupies.

Also last year, Thompson said that Tableau was "actively always looking for space" and wanted to grow in and around Fremont as well as on Seattle's Eastside.

For the full story, go to Puget Sound Business Journal.

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