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Lincoln Plaza Generates Wide Interest from Investor Community
Lincoln Plaza, a 148,652-square-foot multi-tenant office campus in Bellevue, WA, recently sold to New Rock Acquisition LLC. The price was undisclosed. The property was 90 percent leased at the time of sale to 20 tenants in the technology and professional services industries.
CBRE’s Tom Pehl, Todd Tydlaska, Charles Safley, Lou Senini, Paige Morgan and Chais Lowell with CBRE capital markets represented the seller, Des Moines-based Principal Real Estate Investors LLC. CBRE’s Brad Zampa and Mike Walker are arranging acquisition financing on behalf of the buyer. CBRE’s Scott Davis and Tim Owens will continue to lease the property under new ownership.
“The investment opportunity generated significant interest from a broad range of local, national and international capital sources,” said Pehl. “The strength of the Eastside market, irreplaceable location adjacent to the East Link light rail station, and strong in-place cash flow validated the deep investor interest in the opportunity.”
Lincoln Plaza is a three-building campus situated on 9.1 acres at 11225, 11235 and 11245 SE Sixth St. The property is immediately south of downtown Bellevue and a 20-minute drive from downtown Seattle.
- ◦Sale/Acquisition
