Deep Roots in Bellevue Lead to Lake Washington Partners’ 520 Corridor Buy
Lake Washington Partners LLC recently purchased Corporate Campus East in Bellevue’s 520 Corridor from the commingled fund of Kennedy Wilson Fund V for approximately $62 million. Lake Washington Partners expands its ownership presence on Seattle’s Eastside with the acquisition of the three-building 9-acre 136,592-square-foot property located at 3025 112th Ave. NE, 3055 112th Ave. NE and 3075 112th Ave. NE.
Lake Washington Partners’ family-owned business model combined with its deep roots in the Bellevue market led to the company’s acquisition of the highly coveted address, which is anchored by Microsoft and 93 percent leased.
“In strong and enduring markets like Bellevue, there’s an abundance of capital, so purchasing a pre-eminent address on the Eastside is more than about who can buy the property. As a small family-owned and family-run business, we were able to demonstrate to Kennedy Wilson who we are, the breadth and depth of our local market knowledge, the expertise of our local team with boots on the ground, and the ability of our family business to quickly and seamlessly execute on the investment process,” says Jordan Lott, Lake Washington Partners president.
All three buildings were built between 1982 and 1984. Kennedy Wilson recently completed a $3 million renovation to upgrade the property.
Lake Washington Partners was represented by Jeff Jochums of CBRE. Jochums and Scott Davis of CBRE will lead leasing for the property moving forward. Kevin Shannon, Nick Kucha, Rob Hannan and Michael Moll of Newmark were the listing team for Corporate Campus East.