I-90 Corporate Campus, at 3350-3460 161st Ave. S.E. in Bellevue, has sold for a little over $28 million, according to King County records.
The seller was Bellevue Corporate Center LLC, an entity of the Burnstead family’s Pine Forest Properties, which acquired the property in August 2017 for $20 million.
The buyer was RBT Realty LLC, which is associated with three local investors who are also executives at Prime Electric. Public records indicate a loan from Washington Trust Bank.
Dan Harden and Joe Lynch of Kidder Mathews are the leasing agents, and KM’s Harden, Lynch and Andy Miller represented the seller.
The transaction was worth about $314 per square foot.
Lynch says the buyers will move their business into the 43,637-square-foot Building B, which was recently vacated. Prime Electric is currently in a small building the three partners also own, near Richards Road in Bellevue.
Developed on six acres in 1982, the two two-story buildings have 89,186 square feet. Current tenants include Sinclair Broadcasting (formerly DataSphere Technologies) and BlackBerry. The exteriors were renovated this year. Both are now fully leased, says Lynch.
The property is just north of Interstate 90, in the Eastgate area.
For the full story, go to Seattle Daily Journal of Commerce.
©Copyright 2018 Seattle Daily Journal of Commerce
