BELLEVUE, Wash. (July 13, 2018) – KBS Realty Advisors of Newport Beach, California, announced today the renewal of 25,812 square feet in leases at Ridgewood Corporate Square in Bellevue, Washington. Guild Mortgage Company, an independent mortgage lender specializing in residential home loans, and Hormel Food Sales, a nationwide company, both renewed their leases at the property.
Ridgewood Corporate Square is a seven building, Class A office park on over 14 acres of land, with 242,261 square feet of rentable space and nearly 1,000 parking spaces in surface lots and underground parking garages. On-site amenities include a conference center, café/deli, outdoor courtyard and fitness center with locker rooms and showers.
The office park is strategically located just a half mile from downtown Bellevue at 150-330 120th Avenue, NE and 11900 NE 1st Street. While Ridgewood Corporate Square is easily accessible to interstates 90 and 405, the property is also close to walking trails at Wilburton Hill Park. Tenants at the property have a variety of dining, shopping and entertainment options, including the Hillfair Shopping Center, Bellevue Arts Museum and Bellevue Botanical Garden.
“The decision by Guild Mortgage Company and Hormel Food Sales to renew their leases is a testament to the great relationships we build with our tenants and the desirability of Ridgewood Corporate Square,” said Clint Copulos, senior vice president for KBS and asset manager for the property. “The property’s prime location and numerous amenities continue to attract leading companies.”
Brian Kelly of Washington Partners represented Guild Mortgage Company, Brandon Burrowes of CBRE represented Hormel Food Sales and Scott Davis of CBRE represented KBS in the transaction.
KBS is a private equity real estate company and an SEC-registered investment adviser. Founded in 1992 by Peter Bren and Chuck Schreiber, it is recognized as one of the largest commercial office owners globally. Since inception, KBS-affiliated companies have completed transactional activity in excess of $38 billion via 16 separate accounts and six commingled funds, for government and corporate pension funds. Additionally, KBS has sponsored five sovereign wealth funds and seven SEC-registered, non-traded REITs. For information, visit www.kbs.com.