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September 18, 2018
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Washington Office Complex Trades in $28 Mil Deal

9/04/18

RBT Investments LLC purchased I-90 Corporate Campus, an 89.2k sf, two-building office campus in Bellevue, WA, for $28.025 mil ($314/sf). The property, located at 3350 and 3460 161st Ave SE, was sold by Pine Forest Properties, a Seattle based real estate development and investment firm.

The property was purchased one year ago by the seller. Since then, the seller leased out Building A and made significant common area improvements to the property. RBT Investments LLC will occupy Building A, while one of their affiliate companies will occupy Building B.

Joe Lynch, Andy Miller, and Dan Harden with Kidder Mathews represented the seller. Daran Davidson of Kidder Mathews, along with Derek Heed of Colliers, repped the buyer in the transaction.

“The suburban office market continues to show its strength and desirability with both users and investors. I-90 corporate campus is strategically located off Interstate-90, offering immediate access to downtown Bellevue and Seattle,” said Lynch. The I-90 corridor has consistently been one of the strongest Eastside submarkets, attracting larger, strong-credit tenancy including, Microsoft, T-Mobile, and Verizon Wireless, Lynch pointed out.




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