April 5, 2018
Nicola Crosby, a real estate asset management subsidiary of Vancouver-based Nicola Wealth Management Ltd, purchased Swift Gateway, a 68,290-square-foot office building in Bellevue, WA for $25.5 million. The seller was San Francisco-based Swift Real Estate Partners.
The three-story, Class A office building was fully renovated in 2016. The property is located at 915 118th Ave. SE, southeast of downtown Bellevue. It offers immediate access to Interstate 405 and Interstate 90, and is within walking distance to the South Bellevue Park and Ride.
Kidder Mathews’ Joe Lynch and Andy Miller facilitated the transaction between the two firms.
Lynch says, “The deal indicates that suburban office product is continuing to attract a significant amount of investment interest due to strong fundamentals in the market and the higher yields compared to the central business districts.”
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