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CBRE Arranges $45M Off-Market Sale of Redmond Office Complex
CBRE has arranged a $45 million off-market sale of Vibe Redmond, a three-building Class A office complex in Redmond, to the Muslim Association of Puget Sound (MAPS) and Medina Academy.
Tom Pehl, Charles Safley and Jeff Hodson of CBRE’s Capital Markets team in the Pacific Northwest represented the seller, Vibe Brand Boutique Office Properties. Jim Reed and Adrienne Hunter with Lee & Associates represented the buyers.
“The sale of Vibe Redmond was a strategic opportunity for our client to successfully complete its investment strategy in the asset,” said Pehl. “This enabled MAPS and Medina Academy to secure the optimal location for their future growth in the Eastside market.”
Vibe Redmond is located at 5000, 5010, and 5020 148th Avenue NE in Redmond, across from a large technology company. According to CBRE Research, the Redmond office market has one of the lowest vacancy rates in the Puget Sound region, far below the 26.9% market average.
Photo credit: Mark Griffith Photography
