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BLU Bellevue

Virtu Investments Latches Onto the Virtues of Newly Built BLU Bellevue

BLU Bellevue, a 135-unit luxury mixed-use multifamily community in downtown Bellevue, recently traded for $109 million or $1,004.70 per-square-foot. The asset was acquired by Virtu Investments.

Built in 2020 by Continental Properties, BLU Bellevue overlooks Bellevue Downtown Park and is in walking distance from the 6 million-square-foot Bellevue Square Mall.

Institutional Property Advisors’ Philip Assouad, Giovanni Napoli, Ryan Dinius, Sidney Warsinske and Anthony Palladino represented the seller, Continental Properties, and procured the buyer.

“Tech giants such as Amazon, Facebook, Google and Microsoft are currently fueling the growth of Bellevue and the surrounding area with these companies announcing major expansions within the next three years,” said Napoli. “The short- and long-term growth expected within Bellevue, along with the asset’s exceptional location across from Downtown Park and its best-in-class construction, were key factors for Virtu Investments purchasing a legacy asset such as BLU Bellevue.”

In total, Amazon’s current and planned office footprint in downtown Bellevue is approximately 6 million square feet.

Read More News Stories About: Microsoft

Inside The Story

Giovanni Napoli

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.

  • ◦Sale/Acquisition
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