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1/20/16
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In a recent office buy out of the Seattle suburb of Kent, WA, Menashe Properties purchased Creeksides at Centerpoint, a three-building, suburban campus totaling 218.7k sf of space. The property was sold by Unico Properties LLC for $26.5 mil, or $121/sf.
Creeksides at Centerpoint is situated on 12.632 acres at 20415 72nd Ave S in Kent, a Washington community approximately 21 miles southeast of Seattle and 19 miles northeast of Tacoma. There are Metro stops adjacent to the complex, which provide direct access to Kent Station, and the convergence of Interstates 405 and 5 is less than four miles north of the property.
The three-building campus surrounds a centralized circular driveway with green space and a water feature in its center, and amenities include a board room, child care center, bakery and restaurant, fitness center and a walking/running trail. The office complex is 90 percent leased to a diversified rent roll of local, regional, national and government tenants, including Iron Bow Technologies; Washington State DSHS; Washington State Department of Health; Naverus, Inc. and Wells Fargo.
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