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11-Acre MXU Development Site Goes for $145M in Bellevue, WA

The Bellevue Central Business District Gateway Development site, an 11.13-acre land parcel envisioned for development of a trophy, mixed-use project in Bellevue, WA, has been sold for $145 million. The site is a critical mass of land comprised of five separate parcels with development potential in excess of 2.5 million square feet.

NKF Capital Markets’ Kevin Shannon, Ken White, Tim O’Keefe, Marty Leith, Paul Sleeth, Billy Sleeth, Nick Kucha and Michael Moll represented the seller, Fortin Group. The buyer, Canada-based Pinnacle International, was self-represented.

“This site offers the buyer a generational development opportunity with rare scale in a top coastal market,” said Shannon. “The momentum in the Bellevue CBD and the Puget Sound Region is fantastic.”

Locations are 10116 NE 8th St., 10112 NE 10th St., 1111 102nd Ave. NE, and 1036 to 1044 100th Ave. NE. Currently, the site includes a retail center, an office building, an apartment property, a vacant lot and a single family home.

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About Dennis Kaiser

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 including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as 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, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Development
  • ◦Sale/Acquisition
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