By Kate Snyder
Continuing its streak as a place rife with sales activity, Bellevue saw another office building trade hands in a recent sale. The Belle-View Office Park was purchased for $28 million, or approximately $487 per square foot, according to public records, by an entity affiliated with The Burnsteads, a group of luxury home builders based in Bellevue. The seller was an entity affiliated with Create World Real Estate, Inc., a Bellevue-based real estate development and management company. The sale was recorded on Oct. 13.
The office park consists of two buildings located at 275 and 325 118th Ave. SE, according to sale records. The 57,512 square foot office asset was built in 1984 and sits on 2.37 acres.
In the surrounding area are businesses such as Pet Partners, Surbeck Orthodontics and Roberto Yranela & Associates, according to Google Maps. The property is east of I-405 and west of Bellevue Botanical Garden.
While it is unclear what, if any, plans The Burnsteads may have for the office property, the company has been active for more than 50 years, according to the group’s website, and currently offer available housing throughout the greater Seattle area, including Redmond, Kenmore and Issaquah.
Create World Real Estate, Inc. is a subsidiary of Create World Group, which was founded in Hong Kong in 1998, according to the Bellevue Downtown Association’s website. For the past 17 years, Create World Group has expanded globally to Europe and North America.
In September, another sale of an office building was recorded in public records. Clise Properties, Inc., a Seattle-based real estate and development company, purchased an office building located in downtown Bellevue, Wash., for $29.5 million, or approximately $802 per square foot. The property, located at 10801 Main St. in Bellevue, was built in 1986 and is a tenant-occupied commercial structure sitting on 1.14 acres. The site includes two buildings at two stories.