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5/02/25
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Vibe® Redmond, a three-building, 146.2k sf Class A office complex in Redmond, WA, was acquired by Muslim Association of Puget Sound (MAPS) and Medina Academy in a $45 mil ($308/sf) off-market transaction.
Vibe Redmond is located at 5000, 5010 and 5020 148th Avenue NE in Redmond, across from a large technology company. Developed in 1982, the complex sits on 7.7 acres.
Medina Academy will use Building A for a middle school and high school. MAPS will convert Building C into a mosque and spiritual center once the property is vacated. MAPS also plans to make Building B into an education and outreach center.
Tom Pehl, Charles Safley and Jeff Hodson of CBRE’s Capital Markets team in the Pacific Northwest represented the seller, Vibe Brand Boutique Office Properties. Jim Reed and Adrienne Hunter with Lee & Associates repped the buyers.
Sales volume increased 35% in the first quarter as lower office prices attracted opportunistic investors, according to CBRE Research. The Redmond office market has one of the lowest vacancy rates in the Puget Sound region, far below the 26.9% market average.
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