December 9, 2019
The Roxborough Group, LLC acquired Quadrant Willows, a four-building, 248,041-square-foot, Class A office portfolio in Redmond, WA from Equus Capital Partners, Ltd. for a reported $73.6 million. The assets are located at 11121,11241,11261, and 11351 Willows Rd., near the epicenter of Seattle’s tech-dominated Redmond submarket.
Equus acquired the project on behalf of Equus Investment Partnership X, L.P., a fully discretionary fund managed by Equus, in two separate transactions in March and December of 2016. The portfolio was 100% leased at the time of sale, and the new owner expects to benefit from in-place rents that are significantly below market, as well as the desire of some tenants who have outgrown their current suites to give back space in a tight Redmond leasing environment with limited new construction.
NKF’s Kevin Shannon, Nick Kucha, Ken White, Michael Moll, James Childress, Joe Lynch and Dan Harden represented the seller. The buyer was self-represented.
“Selling a building of this size, quality, and tenancy is rare in a market like Willows Road, one of the nation’s top performing suburban micro markets,” said Kucha.
For comments, questions or concerns, please contact Dennis Kaiser