June 18th, 2019– Newmark Knight Frank (NKF) has advised on the $15,750,000 ($296/PSF) sale of Kirkland 405 Corporate Center, Building B, a two-story, 53,268-square-foot office building located at 11335 NE 122nd Way in Kirkland, Washington.
The seller is TA Realty, LLC and was represented in the transaction by NKF Executive Managing Director Joe Lynch, Senior Managing Director Dan Harden, Vice Chairman Nick Kucha and Senior Managing Director Mike Moll. The property was purchased by SmartCap Group, a locally owned company specializing in commercial real estate investment and focusing on value-add retail and office real estate located in the western United States.
The building is located within the vast 40-acre master planned Kirkland 405 Corporate Center commercial park in the Seattle suburb of Totem Lake. The properties corporate neighbors include such prominent names as Oculus VR (Facebook), Google and Evergreen Hospital.
“Kirkland 405 Building B is located in one of Seattle’s best performing submarkets and provides a unique combination of stable in-place cash flows, credit tenancy, and the opportunity to acquire an asset at significant discount to replacement cost,” said Joe Lynch.