January 6, 2020
The Bravern Office Commons, a 749,694-square-foot office property in downtown Bellevue, has traded hands, reportedly for $585 million. The Class A asset consists of two office buildings that are both leased in their entirety to Microsoft Corporation, and a seven-level, subterranean parking garage containing roughly 3,134 stalls.
Built in 2009, the Eastside property includes a 12-story, 255,171-square-foot building at 688 NE 110th Ave., a 23-story, 494,523-square-foot building at 11025 NE 8th St., and a seven-level, 35-acre subterranean parking garage.
NKF’s Kevin Shannon, Nick Kucha, Michael Moll, Ken White, Rob Hannan, Tim O’Keefe and Alex Foshay represented the seller, a JV of Principal and PNC Realty Investors. The buyer, Invesco Real Estate, advising a separate account client, was self-represented. NKF’s David Milestone and Brett Green arranged the financing on behalf of the buyer.
“This trophy asset was strategically marketed to a limited group of targeted investors on an off-market basis,” said Shannon.
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