November 18, 2019 – JLL announced today that it has arranged a $110 million refinancing of Bellefield Office Park, a 15-building office campus totaling 513,385 square feet in the Seattle suburb of Bellevue, Washington.
Bellefield Office Park comprises 15 buildings located on 56 acres at 1150 – 1180 114th Avenue SE in the Seattle Eastside market. The office park is just minutes from downtown Bellevue, which is home to numerous restaurants, cafes and retailers, and close to Interstates 405 and 90, two of the main arteries in Seattle, providing convenient commuting from the Seattle metro area. The properties were renovated between 2013 and 2017 and offer tenant amenities, including a new fitness center, conference facilities, dry cleaning pick-up service, electric car charging stations as well as monthly on-site mechanic service. Bellefield Office Park is 96% leased overall to a diverse tenant roster of investment grade credit and nationally recognized tenants in the tech, real estate, law, health services and financial services industries.
The JLL Capital Markets team representing the borrower was led by Senior Managing Directors Colby Mueck and Tom Wilson and Associate Laura Sellingsloh.