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CBRE Capital Markets has arranged the sale of Redmond East Business Campus to a fund managed by Kennedy Wilson.
Redmond East is an eight-building office and flex-use complex near downtown Redmond.
Thomas Pehl and Lou Senini of CBRE’s Seattle office represented the seller. Brad Zampa, Mike Walker and Megan Woodring of CBRE’s San Francisco office arranged $34.5M in financing on behalf of Kennedy Wilson.
“Redmond is one of the strongest performing submarkets in the Puget Sound region,” Pehl said in a statement. “With the sub-market’s office vacancy under 6% and warehouse vacancy under 1%, Redmond East provides Kennedy Wilson with a diversified and stable income stream in a market where demand and rental rates will continue to grow.”
The 292K SF complex, at the corner of 185th Avenue NE and 67th Court, is 98% leased to eight tenants.
