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Seattle & Northwest  + Office  | 

Brookfield Buys Facebook-Leased Bellevue Building for $365M

Brookfield Asset Management Real Estate Fund acquired the recently-completed, 11-story Block 16 office building in Bellevue’s Spring District for $365 million. The 343,528-square-foot building is fully leased to Facebook and was divested by a group that included Wright Runstad & Company, Shorenstein Properties and institutional investors advised by J.P. Morgan Asset Management.

Shorenstein’s Andrew Friedman says, “The Spring District is a leading example of a sustainable community that provides a true balance of live, work and play. This sale underscores just how desirable this type of asset has become for global investors.”

The 36-acre transit-oriented development district features both residential and commercial projects anchored around The Spring District light rail station.

Wright Runstad’s Greg Johnson says, “Further expansion of The Spring District includes two more large scale projects that will add another 530,000 square feet of office space by 2023, and there is even more in the pipeline.”

Eastdil Secured handled the sale listing.

For comments, questions or concerns, please contact Dennis Kaiser

*Image courtesy of NBBJ

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., 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, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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