Seattle, Wash. (March 11, 2016) – Equus Capital Partners, Ltd. a private equity fund real estate management company, has purchased Quadrant Willows Building C and E, a two-building, 129,972 square foot office portfolio, for $25,650,000. Kidder Mathews commercial real estate brokers, Joe Lynch, Andy Miller, Bob Conrad, and Dan Harden represented the seller, Steelwave, a commercial real estate management and operating company, in the transaction.
The three-story, Class A office buildings are located at 11121 & 11241 Willows Road NE in Redmond, Washington, with convenient access to I-405 and SR 520.
Built in 1998 and 2000, the buildings underwent a significant renovation in 2007, including upgrades to the common-area lobbies and restrooms, a new state-of-the-art electronic directory systems, HVAC system upgrades, new tenant signage, and furnishings. The buildings were 81% occupied at the time of sale. Equus purchased the buildings as a value-add opportunity with plans for additional capital upgrades and lease up.
“With numerous software, technology, gaming, and aerospace tenants in close proximity, the Redmond market is in high demand for quality office space,” said Lynch. “There is continued interest from institutional investors seeking value-add opportunities in Seattle’s suburban areas,” he said.
About Kidder Mathews
Kidder Mathews is one of the largest independently owned commercial real estate firms on the West Coast, with over 550 real estate professionals and staff in 13 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, sustainability, and project and construction management services for all property types. The firm performs $4.7 billion in transactions, manages 34.5 million square feet of space, and conducts 1,300 appraisals annually. For more information, visit kiddermathews.com.