Microsoft’s 63-acre tract in the Issaquah Highlands was sold for $54 million, county records show.

When the sale was reported Friday, no price was included.

The buyer, Issaquah Highlands Investment Fund LLC, shares the same suite as Bellevue-based homebuilder Polygon Northwest, and its registered agent, Derek Straight, is a Polygon executive.

A call on Monday to Polygon’s offices wasn’t immediately returned.

The Issaquah Highlands, an Eastside suburb that’s expected to be home to more than 9,000 people by 2015, was developed in the 1990s to be an urban village of jobs, stores and homes. Residents could ditch long commutes, in theory, as major employers opened offices there.

Microsoft optioned 150 acres in 1998 and ended up buying only 63. The company once submitted plans to build office buildings, but the need evaporated after the company decided to grow in Redmond and downtown Bellevue.

Issaquah Mayor Ava Frisinger said the new developer hopes to break ground within a year on a mixed-use project. Other employers are in talks with the city to expand in the area, including Swedish Medical Center and Bellevue College.

Material from Seattle Times archives was used in this story.

Sanjay Bhatt: 206-464-3103 or sbhatt@seattletimes.com On Twitter @sbhatt