Washington

BELLEVUE, WASH. — Hines has broken ground on Summit 3, a 17-story office tower located in downtown Bellevue, a suburb of Seattle situated on the shores of Lake Washington. The Houston-based development firm has preleased the Class A, 374,220-square-foot office building to a tenant it did not disclose, but the Puget Sound Business Journal reports that Amazon has leased the entire tower with plans to grow its Bellevue employee base to 2,500 by 2020. The Seattle Times reported last week that the Seattle-based tech giant has also begun the permitting process for a new 43-story tower at 600 108th Ave., about two blocks north of Summit 3. Situated at the corner of 108th Ave. NE and N.E. 4th St., general contractor JTM Construction will build Summit 3 atop an existing subterranean parking garage that spans seven levels. Hines will develop the office space to accommodate high-density tech operations. The property is the third building within The Summit office campus, which includes Café Pogacha and a Bright Horizons childcare facility. Other onsite amenities at the Summit campus include a fitness center, conference center and The Summit Room, which functions as a combination of a lobby, lounge and meeting area. The U.S. …

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BELLEVUE, WASH. — Holly Yang and Mike Yeh of Kidder Mathews have negotiated the $11.3 million sale of a 16,674-square-foot multifamily development site at 10050 NE 10th St. in downtown Bellevue. Binjiang Limited Partnership and The Molasky Group of Companies purchased the property. Binjiang is a subsidiary of Binjiang Real Estate, a Chinese publicly traded real estate company. Aotong Bellevue 10th Street LLC, a private real estate investor located in Kirkland, Wash., was the seller. Aotong and architecture firm Link Design Group obtained approval in February for a seven-story, 102-unit residential apartment building with underground parking for 111 vehicles. A demolition permit has also been issued.

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Affordable Self Storage, Bothell, WA

BOTHELL, WASH. — Marcus & Millichap has brokered the $6 million sale of Affordable Self Storage, a 38,725-square-foot facility in Bothell. Christopher R. Secreto of Marcus & Millichap’s Seattle office marketed the 290-unit property on behalf of the seller, a partnership based in Washington, and secured the unnamed buyer. Affordable Self Storage is located at 1621 196th St. SE. The facility was built in 1983 on a two-acre lot.

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SEATTLE — Vanbarton Group, a privately owned real estate investment and advisory firm, has purchased 901 Fifth Ave. from Schnitzer West and Investcorp for $305 million. The 541,190-square-foot, 41-story tower is located at the corner of Fifth Avenue and Madison Street in Seattle’s central business district. Schnitzer West will continue to perform property management services for the tower, which is 100 percent occupied by tenants including Pitchbook and Cray Inc. HFF and Newmark Knight Frank brokered the transition with market leasing support from JLL.

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SEATTLE — EQ Office, an office portfolio operating company wholly owned by the Blackstone Group, has acquired U.S. Bank Centre and 999 Third Ave. in Seattle. The acquisitions increase EQ’s investment to 3.1 million rentable square feet of Class A office space in the city. EQ will manage both properties and plans to reposition them to accommodate Seattle’s evolving workforce. Both buildings are located in Seattle’s central business district. Tenants include U.S. Bank, DocuSign and Wells Fargo. EQ currently manages two properties in Seattle, The Exchange and 800 Fifth Ave. According to EQ, upon renovation U.S. Bank Centre will feature a retail marketplace catering both office tenants and area residents, while 999 Third Ave. will feature an improved exterior plaza area.

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Soundview-Apts-Seattle-WA

SEATTLE — Norris, Beggs & Simpson Financial Services has arranged $5.5 million in financing for Soundview Apartments in Seattle. The borrower, RSA Soundview LLC, plans to use the funds to refinance existing debt. Michael Wood and Colin Ceithaml of NBS Financial secured the non-recourse, fixed-rate financing through State Farm Life Insurance Co., a life company correspondent of NBS Financial. The 108,066-square-foot property features 85 apartments, a parking garage, rooftop deck, courtyard and 3,872 square feet of ground-floor retail space.

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Pivot-Seattle-WA

SEATTLE — Vibrant Cities has received $31.3 million in construction financing for the development of Pivot, a mixed-use property in Seattle’s Capitol Hill neighborhood. Brandon Roth and Zack Goodwin of HFF secured the five-year, floating-rate loan through H.I.G. Realty Partners for the borrower. The project will replace an existing parking lot with a pedestrian-inspired development along the Pike/Pine corridor. Once complete, Pivot will features 71 apartments above a sub-grade parking garage, street-level retail space and 11,000 square feet of office space.

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Santa-Fe-Ridge-Apts-Silverdale-WA

SILVERDALE, WASH. — JRK Property Holdings has expanded its multifamily portfolio in metro Seattle with the off-market purchase of Santa Fe Ridge Apartments in Silverdale. Terms of the transaction were not released. With this acquisition, JRK Property Holdings now owns more than 1,400 units in the Seattle MSA. Located at 1410 NW Santa Fe Lane, the property features 240 units in a mix of one, two- and three-bedroom floorplans. Community amenities include an indoor swimming pool and spa, fitness center, community lounge, indoor racquetball and basketball courts, tanning salon, dog park and children’s playground. The buyer plans to complete renovations of the apartments and improve the community’s common areas and amenities.

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19825-International-Blvd-SeaTac-WA

SEATAC, WASH. — Marcus & Millichap has arranged the sale of International Boulevard Self Storage, a self-storage facility located in SeaTac. A local investment group acquired the asset for $6.5 million. Located at 19825 International Blvd., the 45,273-square-foot property features 453 self-storage units. The facility was built in 1974. Christopher Secreto of Marcus & Millichap’s Seattle office represented the out-of-state seller and secured the buyer in the deal.

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LONG BEACH, WASH. — Crystal Investment Property (CIP) has arranged the sale of Rodeway Inn & Suites, located at 115 Third St. SW in Long Beach. Terms of the transaction were not released. Situated 2.5 blocks from the beach, the hotel features 42 guestrooms, a seasonal pool, guest laundry, high-speed internet and a mix of kitchenette, fireplace and pet-friendly rooms. Additionally, the property features two owner’s quarters and an additional apartment. Joseph Kennedy of CIP handled the transaction on behalf of the undisclosed seller and undisclosed buyer.

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