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Kennedy Wilson Fund Sheds Eastgate for $125M

Eastgate Office Park, a 279,896-square-foot multi-tenant office campus located in the 1-90 Corridor submarket of Bellevue, recently sold to San Diego-based American Assets Trust for $125 million. Eastgate Office Park is a four-building office property located at 15325, 15355, 15375 and 15395 SE 30th Place.

The property, which was completed in 1985, was 99 percent leased at the time of sale to a diverse mix of tech and professional services tenants. Amenities include fitness amenities, a full-service café, an outdoor patio with a seating area, and a path to nearby retail, restaurants, parks and hotels.

Tom Pehl, Charles Safley, Lou Senini, Paige Morgan, Todd Tydlaska, Chais Lowell, Brad Zampa and Michael Walker of CBRE negotiated the sale on behalf of the seller, Kennedy Wilson Fund V, a commingled fund managed by Kennedy Wilson.

“Eastgate Office Park offers a premier location, best-in-class on-site amenities and a diverse tenant roster with thriving tech and professional services companies,” said Pehl. “The buyer will benefit from strong in-place cash flow with proven recent leasing activity supporting additional upside opportunity.”

Eastgate Office Park is north of Interstate 90, providing access to downtown Bellevue and Seattle. The property is located a short distance from the future Link Light Rail Eastgate stop.


Inside The Story

Tom Pehl

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

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