BELLEVUE – An office building at 12503 Bel-Red Road has sold for almost $3.2 million, according to King County records. The seller was Shulter Properties LLC, which acquired the property in 1997 for $720,000.
The buyer was Bel Red Properties LLC, which is associated with a tax firm that leases space next door at 12505 Bel-Red Rd.
Jeff Chaney and Alex Wheatley of Kidder Mathews represented the seller. The deal was worth $414 per square foot, according to KM.
Developed in 1983 on a little over a half-acre, the two-story Forum South Building has 7,642 square feet, according to KM. Tenants include Shulter Consulting Engineers and the Synthesis architecture firm.
The property is just south of Bel-Red Road, east of Lake Bellevue and walkable to the Spring District, where light rail service will begin in 2023.
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