Building G at Kirkland 405 Corporate Center in Kirkland, Washington has sold for $12.5 million. Kidder Mathews’ Steve Pelluer and Kim Hutchins represented the buyer, a partnership between Eastside Christian Fellowship and church member investors.
The flex business park property comprises 31,031 square feet of rentable building area at 12040 115th Avenue Northeast. It is immediately adjacent to Interstate 405 and less than 10 minutes from popular retail attractions including The Village at Totem Lake and Whole Foods. The buyer initiated the sale in an off-market deal amid low inventory and high demand for similar properties.
“Growing churches who want to purchase real estate find themselves in a highly competitive commercial real estate environment,” said Hutchins. “However, with creative thinking and the financial resources to act fast, churches can acquire commercial buildings like Kirkland 405, repurpose them, and make them viable for church and educational uses.”
About Kidder Mathews
Kidder Mathews is the largest independent commercial real estate firm on the West Coast, with 900 real estate professionals and staff in 21 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, asset services, consulting, project and construction management, and debt & equity finance services for all property types. The firm performs $10.9 billion in transactions, manages 62 million square feet of space, and conducts over 2,600 appraisals annually. For more information, visit kidder.com.