Eastside Office Buildings Sell Off-Market
Colliers International recently arranged the sales of The Romero Professional Building in Bothell and the Olympic Medical Center in Bellevue. Both properties, sold off-market, were fully leased to medical and professional tenants at the time of sale.
Bothell RE Venture LLC purchased The Romero Professional Building, at 19110 Bothell Way NE in Bothell, from LAIT Bothell LLC for $3M. The 9,744 SF building was constructed in 1987. Colliers’ Pat Mutzel and Jeff Jeremiah represented the seller. Derek Heed and Greg Riva, also of Colliers, acted on behalf of the buyer.
The Olympic Medical Center, at 1310 116th Ave. NE in Bellevue, sold for $7.75M. The 15,274 SF building was constructed in 1978. Healthcare Realty purchased the building from BH Properties I LLC. Mutzel and Jeremiah represented the seller.
“Our ability to sell the properties in off-market transactions speaks to the appeal of these types of buildings in the current environment, as well as the investment community’s confidence in the east Puget Sound market’s future,” Mutzel said in a statement.
