Update 10:41 a.m.:
We got confirmation from Apple that the store is indeed moving to a new location in the mall. We'll post more details as we get them.
The is holding a grand reopening Saturday at 9:30 a.m., according to an email that customers (including me) got this morning (Tuesday).
I've contacted Apple's media department to see if we can get more details. There's not much more detail than that in the email, except that it's "bigger":
The redesigned Apple Store, Bellevue Square, is bigger and better than ever. It’s opening soon so you can shop, test-drive our products, ask questions, attend free workshops, and much more.
The opened its seventh retail store to much fanfare, and dwarfing the current Apple Store.
All I know is that whenever I'm in the Apple Store, it's incredibly crowded. I've only picked up items that I've preordered because browsing has been pretty unpleasant. Tutorials on products tend to be conducted in a little space between a display countertop and a display table.
I was just at Bellevue Square yesterday, and there is a lot of activity in the large blank retail location next to Papyrus.
What do you think about this reopening? Tell us in the comments.