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PCCP, Steelwave JV Claims 17-Building Campus Near Seattle
PCCP, LLC formed a joint venture with SteelWave to acquire Canyon Park Business Center, a 17-building property totaling 632,591-square feet in Bothell, WA. The seller was a venture of SteelWave and Colony NorthStar.
The property on Seattle’s Eastside is 99% occupied, and consists of 13 Class A flex/office buildings totaling 450,961 square feet, and a collection of four net leased, Class A, life science lab and data center buildings totaling 181,630 square feet.
PCCP’s Brendan Shanahan says, “PCCP was attracted to this asset due to its mix of long-term credit tenancy, including Microsoft and Seattle Genetics, and its smaller multi-tenant buildings that provide spaces with a depth of tenant demand in the market.”
Built between 1985 and 1997, the property is located on 220th St. SE; 17th Ave. SE; 20th Ave. SE; and 29th Dr. SE.
NKF’s Kevin Shannon, Nick Kucha, Ken White, Michael Moll, James Childress and Bill DeLacy represented the sellers. The buyer was self-represented.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
