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Seattle & Northwest  + Office  | 

Ares, SteelWave Snag Bellevue Campus from TA Realty for $55M

Corporate Campus East III, a four-building, 154,765-square-foot office campus in Bellevue, WA, has traded hands for $55.25 million. The buyer was a JV between SteelWave and Ares Management, while the seller was TA Realty.

Situated on 11.74 acres along the 520 Corridor at 3001, 3005, 3009 and 3015 112th Avenue NE, the campus was built in the mid-1980s and underwent a major renovation in 2015. The property is 90% occupied by a diverse mix of tenants, and offers a cafeteria, plaza, canopies and outdoor benches and seating areas, and ample parking.

NKF’s Kevin Shannon, Nick Kucha, Rob Hannan, Ken White, Michael Moll and Bill Delacy represented the seller. The buyer was self-represented.

Shannon says, “The 520 Corridor is currently experiencing an incredible fundamental improvement, with a 2.5 percent office vacancy rate and minimal new product in the pipeline. The rents continue to rise due to increasing tenant demand, with no signs of a slowdown.”

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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 integrated marketing communications roles. He is responsible for Connect’s client content operations and public relations strategy. He is involved in a range of initiatives ranging from content strategy, message development, copywriting, Social Media and content marketing services. Dennis’s communications background in the real estate industry includes working with many of the top real estate firms – from brokerage companies, developers, homebuilders, investors, owners, lawyers, asset advisors, lenders, architects and property management firms. • Marketed more than 1 Billion Square Feet of Office Space • 70,000 Multifamily/Condo Units • 15,000 Single Family Homes • 30 Million Square Feet of Retail Space • Representing Roughly $100 Billion in Investment 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. Dennis’s agency background on integrated communications teams at many reputable agencies and has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. He formerly was President of the Public Relations Society of America’s Los Angeles of public relations professional, and served on the Board of Directors. He also taught a public relations extension course at Loyola Marymount University. Dennis’s 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.

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