A real estate firm from New Mexico and an investor in Hong Kong purchased the campus, which was built in 2001 and has since soared in value.
In the biggest real estate transaction of the year on the Eastside, a major office complex in Bellevue has sold for $202.7 million to a pair of investors from the United States and China.
Changing hands this week is the One Twelfth @ Twelfth property on 112th Avenue NE, just off Interstate 405 at the edge of downtown.
The three-buildingcomplex totals 480,000 square feet of office, and is fully leased with tenants including VoiceBox Technologies, BitTitan, CH2M Hill, CenturyLink and Nokia Solutions Network.
Iowa-based Principal Real Estate Investors bought the property for $134.1 million in 2004 and is now selling for more than 50 percent profit.
Most Read Business Stories
- Early 787 test plane is dismantled for reuse, recycling, or scrap
- Amazon workers' median pay in 2017: $28,446
- Southwest Airlines sought more time for inspections before Boeing 737’s engine exploded
- Metals-forging firm near Boeing Field closing after 8 decades so real estate can be sold
- Apple’s New iPad is the best tablet for almost everybody | Tech review
The buyers of the 15-year-old buildings are New Mexico’s Gemini Rosemont Commercial Real Estate and their Hong Kong-based partners Gemini Investments. Gemini Rosemont said it was encouraged by the area’s “highly skilled and educated work force.”
It’s among the 10 biggest transactions of the year in King County and the biggest on the Eastside, beating out last month’s $193 million sale of the Civica Commons office in downtown Bellevue. The region’s largest property sales all happened in Seattle, with the biggest being the $387 million deal for Safeco Plaza.