Bellevue Office Portfolio Sells For $59.3M
Swift Real Estate Partners recently purchased the Bellevue 520 Corridor Office Portfolio for $59.3 M. The buildings, totaling 185,930 SF, were previously owned by a joint venture between Schnitzer West and RMA.
The portfolio consists of two properties that were recently renovated: the Bell-Kirk 520 and Centra Office Park. As the name implies, the campuses both have easy access to SR 520, as well as SR 405.
Bell-Kirk 520 is a two-building, two-story complex on 7.19 acres at 11120 and 11130 NE 33rd Place. The 94,221 SF campus was built in 1988 and renovated in 2016. There are both indoor and outdoor workspaces with an Avanti Market on the property.
Centra Office Park totals 91,709 SF spread out over two three-story buildings on 4.67 acres at 11808 and 11820 Northrup Way. It was constructed in 1983 and renovated in 2016, and it includes an outdoor seating area and plaza, a renovated lobby and an Avanti Market.
NKF’s co-Head of U.S. Capital Markets Kevin Shannon, Vice Chairman Nick Kucha, Senior Managing Director Michael Moll, Executive Managing Director Rob Hannan and Director Bill Delacy represented the seller. The buyer self-represented with NKF’s David Milestone and Brett Green securing new acquisition financing.