August 27, 2019
Swift Real Estate Partners acquired the Bellevue 520 Corridor Office Portfolio from Schnitzer West and RMA for $59.3 million. The 100%-leased portfolio is comprised of Bel Kirk 520 and Centra Office Park in Bellevue, WA.
Swift’s Christopher Peatross says, “This is our sixth office investment on the Eastside. We are extremely eager to continue expanding in this strong market built on low vacancy, limited supply and a healthy demand from technology tenants.”
Located at 11120-11130 NE 33rd Pl., Bel Kirk 520 encompasses two, two-story buildings with 94,221 rentable square feet. Bel Kirk 520 recently underwent extensive capital improvements including a standalone amenity building.
Centra Office Park, a two-building, three-story development includes 91,706 rentable square feet, as well as an on-site micro market. The development recently underwent a full building refresh.
NKF’s Kevin Shannon, Mike Moll, Ken White and Nick Kucha brokered the deal, with market leasing support provided by JLL’s Mark Flippo.
*Photo credit: Michael Walmsley Photography
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