Unico, Partners Group Team Up To Buy Bellevue Connection
Unico Properties and Partners Group recently acquired the 228K SF mixed-use Bellevue Connection in an off-market transition. The building houses video-game developer Bungie Inc. The firm Mph-1 Bellevue acquired the property in 2013 for $88M, according to public records.
The three-story development was built in 1999 as the 11-screen Bellevue Galleria movie theater. In 2008, it was converted into a mixed-use office project. It features large floor plates, double-height ceilings, large windows and a high parking ratio. Located in the Bellevue Central Business District at NE Sixth and 106th, the property sits near Bellevue Square.
Early last year, Unico purchased the 79K SF Marymoor Technology Building in Redmond, its first acquisition in that town. Unico credits its future mass transit station for the city’s new appeal. The building is located on the path of the future Sound Transit 3 and just 300 yards from the future SE Redmond light rail station.