By Kate Snyder
An office building in Redmond traded hands in a recent sales transaction, showing that investors continue to be attracted to what the city has to offer. The property, Cascade View East, was sold for $10 million, or approximately $713 per square foot, by an entity affiliated with Western Williams, who is a partner at Western Property Management, according to King County property records. The entity, a limited liability company, also shares an address with the property management company, which itself has an office in the building that was just sold. The buyer was an entity affiliated with 16310 80th Owner LLC, based in Cleveland, Ohio.
Property records show that the seller, Williams Redmond LLC, first purchased the property in 2016 for $3.5 million, or approximately $246 per square foot.
Located at 16310 NE 80th St., the building totals 14,022 square feet and was constructed in 1983, property records show. Businesses located at the address include Square One, which offers treatment services related to alcoholism; Nelson CPA, an accountant; and BiSOFT, an information technology firm.
Much of Redmond’s recent sales activity has been in the city’s multifamily market, but the municipality is no stranger to other types of transactions.
In December, a shopping center on the city’s eastern edge was purchased for $14.4 million, or approximately $296 per square foot, by an entity affiliated with the James E Downey Foundation of Newport Beach, Calif., according to The Registry’s previous reporting. The seller was an entity affiliated with Carlton Manor LLC in Florham Park, N.J. The property is located at 3925 236th Ave. NE on five acres of land.
Also last year, New York-based LCN Capital Partners purchased the Redmond Hilltop Office Campus for $90.1 million, or about $503 per square foot. The Amazon-leased property was sold by an entity affiliated with Transwestern Investment Group. The three-building campus totals 178,957 square feet and is located across several addresses at 6464, 6222 and 6244 185th Ave. NE in Redmond.
