San Francisco-based Swift Real Estate Partners sold Overlake 520 in Bellevue for $63 million. The Eastside 520 Corridor asset at 14335-14475 24th St. was reportedly acquired by New York-based Innovatus Capital Partners.
The deal works out to $432-per-square-foot and marks a 28-month investment cycle for Swift, which had acquired the asset for $45 million in June of 2018.
Swift Real Estate Partners’ Tom Harris says, “This sale is a direct reflection of the strength of the Bellevue office market. In the midst of a global pandemic, we witnessed deep demand for office space from tenants and equally impressive interest from institutional capital.”
The property consists of a pair of two-story buildings totaling 145,914 square feet. Swift overhauled the marketing strategy and raised the buildings’ physical and operational profile, resulting in a 100% leased property with a diverse roster of strong credit tenants.
Newmark’s Nick Kucha represented the seller.
Dennis Kaiser is Vice President of Content and Public Relations for
Connect Commercial Real Estate. Dennis is a communications
leader with more than 30 years of experience.
Email the Author
Reach over 250,000 Commercial Real Estate Professionals with Connect
Connect CRE reaches the top commercial real estate players nationwide and across all property types, offering you a variety of ways to showcase your team, your expertise and your brand to CRE decision makers.
ConnectCRE.com
The home for CRE news and everything you need to stay informed on deals, trends, and transactions, providing a platform to get your brand in front of your target audience.
Daily CRE Emails
Reaching over 150,000 inboxes across the nation every day, Connect’s Daily News emails provide advertising opportunities specific to your market.
Bi-Weekly Property Sector Emails
Focus your advertising on emails dedicated to your property sector and stay visible to current and potential clients.
Content Marketing
Position your team as experts in your field with content created by Connect’s editorial team and published on Connect’s news emails. Showcase your intelligence and broaden your reach.
