BELLEVUE, WASH. — Shorenstein Investment Advisers has completed the sales of three office buildings in Bellevue’s The Spring District in two separate transactions. Funds affiliated with Blackstone Real Estate acquired a joint-control interest in Blocks 5 and 6 from Shorenstein, while Drawbridge Realty, a KKR partner, purchased Block 13 from Shorenstein and Wright Runstad & Co. The properties were each developed as build-to-suit office buildings for Meta. Terms of the transactions were not disclosed.
Blocks 5 and 6 consist of two, 11-story buildings that total 670,000 square feet. While both buildings are leased long-term to Meta, the entirety of Block 6 was recently subleased to Snowflake, which moved into the building in May. Block 13 is a nine-story, 200,000-square-foot property.