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According to a Seattle Times article in 1967, the 400 Building was to be completed by Fall 1967. This article indicated the 400 Building was to be a seven-story building, while the King County Assessor noted that it had six. (See Alice Staples, "Real Estate and Planning: Lease," Seattle Times, 02/26/1967, p. 22.) It was planned to be the tallest office building in Bellevue, WA, when built during 1966-1967. A reinforced concrete office tower, it originally housed the local offices of the Shell Oil Company. The Minute Maid Company, a division of Coca-Cola Corporation, also negotiated a long-term lease in the office building in 1967. Later, the First Mutual Bank operated in the building. The First Mutual Bank purchased the building from the University Street Properties IV LLC on 03/03/2003.

The 400 Building had a 44,502-square-foot (1.02-acre) site in 2010. It contained 86,219 gross square feet, 64,921 net. Land and improvements were worth $13,769,000 in 2010, down from a high of $16,241,000 in 2008.

Numerous interior office modifications were made 2007-2010; the most costly was the modification of shell space into an outpatient clinic in 2010 ($986,000).