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May 31, 2020
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Swift Real Estate Partners Buys 145k sf WA Office Asset


Swift Real Estate Partners purchased Oakhurst Center, a 145.6k sf, two-building office property in Bellevue, WA, in a $45.4 mil ($312/sf) deal. The asset was sold by Barings, on behalf of an institutional investor.

The property is located at 14335 and 14475 NE 24th St, one mile from Microsoft’s world headquarters and within the 520 Corridor Submarket. The multi-tenant office property is 79% occupied and leased primarily to vendors of Microsoft who desire its proximity, use of the Microsoft Connector Shuttle and the amenity-rich surroundings. The 520 Corridor submarket is one of the strongest submarkets in the Seattle region and is home to Microsoft as well as a multitude of technology firms.

NKF Capital Markets Co-Head of U.S. Capital Markets Kevin Shannon, Vice Chairman Nick Kucha, Executive Managing Directors Ken White, Tim O’Keefe and Mike Schreck, Senior Managing Director Michael Moll, and Directors James Childress and Bill DeLacy represented the seller in the transaction. Swift Real Estate Partners was self-represented.

Mike Zammitti, Head of U.S. Real Estate Equity for Barings said, “The sale of Oakhurst Center allowed us to take advantage of current investor demand for assets in strong suburban submarkets that offer a multitude of demand drivers and amenities, and successfully exit the investment, completing our business plan for our client.”

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