Bellevue, April 13, 2018 – The investment sales market in Seattle and across the Puget Sound Region continues to surge, and Colliers International’s Bellevue, WA office recently completed the sale of three properties that speak to the strength of the Eastside and North End markets.
In the first sale, Derek Heed and Gregg Riva collaborated with NAI Puget Sound Properties and NAI Hunnerman to market Building A of Kirkland 405 Corporate Center in Kirkland. KOF Enterprises purchased the Class A property from Claddagh Ventures, LLC for $14.8 million. Located at 11411 NE 124th Street just off Interstate 405, the building was 97% leased at the time of sale.
Mr. Heed and Mr. Riva also represented buyer HPO Investment LLC in the purchase of Harbour Point’s Building A, North Campus in Mukilteo from Bocek/NCA, LLC for $7.55 million. The fully-leased, 33,387-square-foot property at 12121 Harbor Reach Drive is one component of a 2,810-acre master planned community that also incorporates residential buildings, manufacturing facilities, a golf course, parks and a wildlife preserve adjacent to Puget Sound.
Finally, Mr. Heed worked with David Gunther of Colliers’ Bellevue office to arrange the sale of 4901 81st Place SW in Mukilteo. Wahid El Bahr and Sahar Bagoury purchased the property, which provides office space for professional services office tenants, from Olason Investments LLC for $525,000.
According to Mr. Heed, “the sales of these properties are representative of the demand for and increasing value of smaller buildings for both investors and owner-buyers. They offer stable and dependable income, even in less urban locations, and are therefore highly desirable from an investment perspective.”
About Colliers International Group
Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is an industry-leading real estate services company with a global brand operating in 69 countries and a workforce of more than 12,000 skilled professionals serving clients in the world’s most important markets. Colliers is the fastest-growing publicly listed global real estate services company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 13 consecutive years, more than any other real estate services firm. Colliers has also been ranked the number one property manager in the world by Commercial Property Executive for two years in a row.