PORTLAND, OR – January 19, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $26.5 million sale of Creeksides at Centerpoint, a three-building suburban office campus totaling 218,650 square feet in the Seattle suburb of Kent, Washington.
HFF coordinated the transaction of Creeksides at Centerpoint. The seller was Unico Properties LLC, and Menashe Properties purchased the asset.
Creeksides at Centerpoint is situated on 12.632 acres at 20415 72nd Avenue 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.
HFF’s investment sales team was led by senior managing director Nick Kucha, who covers the Pacific Northwest markets.
About Unico Properties LLC
Unico Properties LLC (Unico) is a real estate investor and full-service operator, focused on office and multifamily assets in the western United States. For nearly 60 years, its investors and partners have relied on Unico for its local knowledge, institutional rigor and boutique service, which consistently deliver results. Founded in 1953, Unico is headquartered in Seattle, Washington. With more than 10 million square feet of LEED-certified properties, the company is a leader in sustainable best practices, developing and managing some of the world’s highest performing green buildings and transforming the built environment. For more information about Unico, please visit the firm’s website at www.unicoprop.com.
About Menashe Properties
Menashe Properties is a family-owned business committed to excellence in commercial real estate investment and management. The company has the unique ability to move quickly and expertly. Founded over thirty-five years ago, its roots run deep. Menashe Properties has a broad network of contacts and resources that enable the company to provide extremely responsive service to all. Business owners consistently turn to Menashe Properties for the best service and financial value. The company has earned its reputation for being responsive and trustworthy, and it works every day to meet and exceed the expectations of its customers. For more information on Menashe Properties, visit menasheproperties.com or contact Jordan Menashe.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.