Class A office asset in Kirkland, Washington trades
JLL Capital Markets led the sales efforts for Waterfront Place on Yarrow Bay
SEATTLE, December 21, 2020 – JLL Capital Markets announced today that it has completed the off-market sale of Waterfront Place on Yarrow Bay, a 52,828-square-foot office building in Kirkland, Washington.
Waterfront Place on Yarrow Bay is located at 5209 Lake Washington Boulevard approximately 10 miles northeast of downtown Seattle on the east side of Lake Washington. The building is directly adjacent to the Yarrow Bay Marina and Yarrow Bay and is convenient to Interstate 405 providing north/south access throughout the area.
The property was 100% leased at closing to Bluetooth SIG, Inc. among other tenants.
The JLL team representing the seller was led by Senior Director Logan Greer, Managing Director Buzz Ellis and Senior Managing Director Gerry Rohm along with Managing Director Mark Flippo and Senior Vice President Sam Ziemba.
“Office investor interest remains strong for the Seattle market given the long-term strength of the underlying market fundamentals – the booming tech market, intellectual capital and low cost of living when compared to other major West Coast markets,” Greer said.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About American Realty Advisors
American Realty Advisors (“ARA”), headquartered in Los Angeles, CA, is a private equity real estate investment manager on behalf of institutional capital and invests in a commercial real estate portfolio with over $10 billion in assets under management. Through a series of offerings of core, core-plus, and value-add strategies which include equity, debt, preferred equity, mezzanine and hybrid debt, ARA invests in a wide range of opportunities in high-quality office, retail, industrial, multi-family, and other property types throughout the United States.
More information regarding ARA can be found at aracapital.com.