Vulcan Real Estate Acquires Bellevue Plaza in Metro Seattle for $45.4M
BELLEVUE, WASH. — Vulcan Real Estate has acquired Bellevue Plaza, a 60,000-square-foot shopping center located in Bellevue, roughly 10 miles outside of Seattle, for $45.5 million.
The center was approximately 75 percent leased at the time of sale to tenants including Hot Yoga Inc., Pogacha, Jimmy John’s and Toy’s Café. Situated along Main Street between 106th and 105th avenues in the heart of downtown Bellevue, the center is blocks away from Bellevue Downtown Park, Bellevue Square and Lincoln Square.
Vulcan has no immediate redevelopment plans for the property, but aims to create a long-term vision for the site that will likely include new residential and retail uses. CBRE led the transaction with a team that included Jon Hallgrimson, Frank Bosl and Eli Hanacek.