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Seattle & Northwest  + Seattle  + Office  | 

KBS Acquires Puget Sound Asset for $48M

Newport Beach, CA-based KBS acquired the Offices at Riverpark in Redmond, WA on behalf of a sovereign partner from an undisclosed Boston-based investment firm for $48.1 million. The property is a five-story, Class A office building, spanning 106,281 square feet and touting 100% occupancy.

The property currently leases space to a diverse set of companies in industries such as healthcare, technology, insurance and finance. This acquisition is an example of KBS’ continued commitment to the area in recent years, having added the Westpark Portfolio in 2016.

KBS’ Rod Richerson says, “This building has all the attributes that we look for in an office building – walkable amenities, nearby multifamily and will be one of the best located multi-tenant office buildings for access to the pending expansion of the East Link light rail.”

Built in 2008, the Offices at Riverpark is a modern, LEED Silver-certified office building featuring covered parking, an on-site hotel, and mixed-use space for office, residential and retail tenants. KBS plans to modernize the property’s lobby and incorporate amenities for tenants.

NKF’s Kevin Shannon, Nick Kucha, Ken White, Michael Moll, and Bill DeLacy represented the seller.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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