San Francisco-based Unity Software Inc. (NYSE: U), which makes a platform for creating 3D content, is reducing its footprint at Lincoln Square South in Bellevue.
According to permit documents filed Friday with the city, Unity currently occupies floors nine and 10 of the tower, which is located at 10400 NE Fourth St. It plans to vacate all of floor nine and some of its space on floor 10, the filings show.
It's unclear how much space Unity has at Lincoln Square or when it will downsize. The company didn't respond to requests for information.
The space reduction comes after Unity in January disclosed in a filing with the Securities and Exchange Commission that it would lay off about 25% of the company, or roughly 1,800 employees. The layoffs affected 120 Bellevue employees. Unity said in the SEC filing that the layoffs came as the company "restructures and refocuses on its core business" and looks "to position itself for long-term and profitable growth."
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Unity's software allows creators to make 3D content, whether for gaming or design. The company also makes a platform for creators to monetize their apps. According to Unity, 70% of the top 1,000 mobile games were made with Unity in 2022, and Unity generated over $1.1 billion in advertising income for creators.
In addition to video game clients, Unity has worked with major brands like Nike and BMW. The company generated $2.2 billion in revenue last year, up from $1.4 billion in revenue in 2022.
In a recent Broderick Group report on the Eastside office market, the firm noted the Eastside market vacancy rate hit 24% in the first quarter, up from 23.6% last year.
