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Peregrine Picks Up Seattle Office Asset
Peregrine Realty Partners, Inc. acquired North Creek Parkway Center, a 205,554-square-foot flex park in Seattle’s North Creek micro market from an affiliate of KBS Capital Advisors for $36.5 million. The Class A, six-building property is located at 11804-18916 North Creek Parkway, with easy access to Interstate 405 and State Route 522 in Bothell.
The 97%-leased commercial real estate property benefits from above average tenant retention and absorption, due to its location in the supply constrained flex market in North Creek. Nearly half of North Creek Parkway Center’s tenants have leased space in the park for 10 plus years, including anchor Alder Biopharmaceuticals.
HFF’s Michael Leggett, Dave Otis, Logan Greer and Kevin Freels represented the seller and procured the buyer.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
