Seattle-based research device company NanoString Technologies Inc. (Nasdaq: NSTG) is leasing a new 28,000-square-foot space in Bothell, the company confirmed to the Business Journal on Monday.
The space, located in the Creekview building at 3350 Monte Villa Parkway, will be for instrument manufacturing, according to a company spokesperson, as well as engineering, logistics and support functions. NanoString has four open roles listed on its website for Bothell, including quality control and warehouse positions.
The Broderick Group's third quarter 2022 Eastside Office Market Overview first noted the lease. The report otherwise painted a grim picture for the Eastside office market as workers remain slow to embrace returning to the office.
"The brakes have been slammed on the five-year party of relentless Big Tech expansion on the Eastside," the report read. "There are very few sizable leases under negotiation across the Eastside, and it is expected that signed transactions during the fourth quarter will be limited."
NanoString's spokesperson said the new space will be in addition to the company's South Lake Union headquarters at 530 Fairview Ave. N.
NanoString was founded in 2003 and went public on the Nasdaq in 2013. The company makes devices to help with single-cell research, gene expression data analysis and RNA assays. The company generated $63.3 million in revenue during the second quarter of 2022, down from $65.5 million during the second quarter of 2021. Brad Gray, formerly a vice president at Genzyme Genetics, has led the company as president and CEO since 2010.
The Broderick Group report noted that a post-pandemic shift back into the office has not happened, and most companies are not forcing employees back into the office for more than three days a week.
"Across the board, nearly all Eastside companies have embraced, or accepted, a hybrid or remote work model," the report read. "For the time being, employees are calling the shots regardless of management and company policies."
