Suburban Seattle Office Campus for Sale

Monday, May 1, 2017

Holliday Fenoglio Fowler, L.P. (HFF) is marketing for sale Redmond Hilltop, a three-building, Class A office campus totaling 178,769 square feet in the Seattle suburb of Redmond, Washington. The property's diverse, multi-tenant rent roll is anchored by the corporate headquarters of Genie, a subsidiary of Terex Corporation (S&P:BB). The property is a mission critical facility for Genie as it is adjacent to their manufacturing and R&D facilities. The offering provides an investor the opportunity to establish a presence of scale in the Redmond office market by acquiring the campus.

Strategically located in one of Seattle’s best performing suburban Eastside submarkets, the Redmond Hilltop real estate investment opportunity provides an investor with a unique combination of stable in-place cash flows, credit tenancy, mark-to-market upside potential and the opportunity to acquire the asset at a significant discount to replacement cost.

Office Campus for Sale Investment Benefits

  • Stable Tenancy:  The campus has 7.2 years weighted average lease term remaining, providing stable in-place cash flow. There is limited rollover with 35 percent of rentable square feet expiring over nine years.
  • Favorable Market Statistics:  The Seattle-area buildings are located at 6222, 6244 and 6464 185th Avenue NE in a market that has 7.5 million rentable square feet with only 3.3 percent vacancy and zero rentable square feet currently under construction.
  • Greater Seattle Metro Accessibility:  The office property for sale is nine miles from downtown Bellevue, 15 miles from downtown Seattle and the University of Washington, 17 miles from Seattle Seaport and 23 miles from SeaTac Airport. Additionally, the building is proximate to Overlake Station, which provides access to public transit.
  • Boundless Nearby Amenities:  Redmond Hilltop is near more than 180 restaurants and 110 retailers. There are more than 25 nearby parks and approximately 17 miles of developed trails. Trader Joes, Whole Foods and Redmond Town Center, the Eastside’s premier lifestyle shopping center, is five minutes away by car.

For more information on the Redmond Hilltop or other office properties for sale in the Seattle area, please contact Nicholas Kucha, Michael Leggett or Dave Otis in HFF’s Portland office. To view HFF’s current real estate investment listings, please click here to be directed to HFF’s property search page.

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