Kirkland 405 Corporate Center buildings A1 and A2 went on the market last week. The three-story buildings, totaling 130,390 SF of office space, are 98% leased. JLL expects the asking price could exceed $40M.
The buildings are in an area known for its high-tech companies. Corporate offices in Kirkland include Google, GoDaddy, Bluetooth and Nintendo. Office vacancy is 5.9% and the market lacks large blocks of space. Rents have increased 5.8% year to date, according to JLL.
“Due to the rapid growth happening in the suburban Eastside office market, Kirkland is a highly sought-after location among leading employers looking at the Pacific Northwest,” JLL Managing Director Lori Hill said in a statement. “Nearly at capacity, this opportunity offers stability as well as tremendous upside potential from below market rents.”
JLL is representing the seller, an institutional investor.
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