WOODINVILLE, Wash. (Nov. 16, 2016) – KBS Realty Advisors of Newport Beach, California announced today the signing of a new 10,970-square-foot lease by Cru Selections, a premiere wine distributer, at The Park at Woodinville. One of the largest industrial parks in Woodinville, the property is a Class A, five-building warehouse facility located 20 miles outside of Seattle and Everett and 15 miles outside of Bellevue. The property totals 239,607 square feet and can accommodate a diverse array of tenants with varying size requirements.
The Park at Woodinville is easily accessible by State Route 522 and Interstate 405, and tenants can enjoy the amenities of downtown Woodinville, which is one mile from the property. Downtown Woodinville is a cultural hub offering a variety of shopping, dining and entertainment options, including farmers markets and seasonal music festivals.
Woodinville and its warehouse district have become home to over 100 wineries and tasting rooms over the last two decades, attracting aspiring winemakers to the area. The property is located adjacent to one of the largest industrial winery locations in the state of Washington.
“Cru Selections is a great addition to The Park at Woodinville, and we hope they will thrive in the bustling Woodinville market particularly given its growing wine industry,” said Mark Brecheen, KBS senior vice president and asset manager for the property. “Warehouse space in such a prime location makes the property an attractive offering for tenants.”
Since KBS acquired the property in 2014, many improvements have been made to the property, including a complete landscape renovation, the addition of covered picnic table areas and benches throughout the park, and new signage.
Derek Heed of Colliers International represented KBS and Erik Larsen of CBRE represented Cru Selections in the transaction.
KBS Realty Advisors is a private equity real estate company and SEC-registered investment advisor founded in 1992. KBS Realty Advisors and its affiliated companies have completed transactional activity of over $32.5 billion via 14 separate accounts, six commingled funds, five sovereign wealth funds and seven non-traded REITs. For information, visitwww.kbs.com.