Home Commercial 13,800 SQFT Office Property in Kirkland Sells for $18MM

13,800 SQFT Office Property in Kirkland Sells for $18MM

By Jack Stubbs

On December 4th, a nearly 15,000 square foot office property sold for $18 million, King County records show. The buyer was LMJ Enterprises LP, an entity affiliated with Brett Johnson based in Kirkland, and the seller was Redmond-based S & I of WA LLC, an entity associated with David H. Hannah. 

The subject property, located at 11932 124th Ave. NE, is a two-story office building constructed in 1997 that totals 13,800 square feet, according to public documents. Called Infiniti of Kirkland, the Class C property sits on just over three acres and is home to an automobile showroom, according to Google Maps. 

The building is located within the Totem Lake neighborhood of Kirkland and roughly one mile east of the Lake Washington Institute of Technology. Infiniti of Kirkland is approximately three miles north of downtown Kirkland via I-405. The property is also near the recently-opened Village at Totem Lake Complex, a 400,000 square foot square foot mixed-use lifestyle center that comprises 650 luxury apartments and 45,000 square feet of retail space. 

In January 2019, a 20,000 square foot Buick GMC auto dealership—located nearby at 12335 120th Ave. NE—sold for $10 million, with Alco Totem Lake West LLC acquiring the property from an entity based in Bellevue. 

In November 2019, a 36,350 square foot medical/office building traded hands for $22.8 million, with Nashville, TN-based Healthcare Realty purchasing the asset from JCR Development.