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Kilroy Divests Seattle Asset to Clarion for $135M

Kilroy Realty sold Plaza Yarrow Bay, a four-building multi-tenant office asset in suburban Seattle, for $134.5 million. The buyer was Los Angeles-based Clarion Partners.

The 284,313 institutional quality asset is located at 10220 NE Points Drive, 10230 NE Points Drive, 10210 NE Points Drive and 3933 Lake Washington Blvd in Kirkland, WA.

The lush campus setting features walking trails and outside decks and is positioned at the gateway to Seattle’s Eastside. The campus is near Microsoft’s Redmond headquarters, and offers immediate access to SR 520 and I-405, providing connectivity to Bellevue, Kirkland, Redmond and Seattle. Among tenants at Plaza Yarrow Bay are two Microsoft business partners, INRIX and Allyis.

NKF’s Kevin Shannon, Nick Kucha, Ken White, Michael Moll, and Bill DeLacy represented the seller. Shannon noted, “Plaza Yarrow Bay is one of the premier office assets in Kirkland, and sits at the gateway to Seattle’s Eastside with immediate access to four major hubs.”

For comments, questions or concerns, please contact Dennis Kaiser

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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 marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. 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. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as 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, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition