American Assets Trust has paid $125 million for Eastgate Office Park, a 280,000-square-foot office campus in Bellevue, Wash. The seller was not disclosed.
Eastgate Office Park is currently more than 95 percent leased to a diversified tenant base.
Seattle’s office market had two new deliveries in the CBD during first quarter 2021: the 722,000-square-foot RanierSquare (preleased to Amazon, and partially subleased to Bank of America and Goldman Sachs) and the 135,000-square-foot Boren Office Lofts (delivered completely vacant), reported Cushman & Wakefield in its first quarter report. Of the 2 million square feet under construction, nearly 1.8 million square feet (84 percent) is available. Through the rest of 2021, several projects are slated for delivery including the 500,000-square-foot Dexter Yard biotech building (completely available), the 200,000-square-foot Cascadian (completely available), and the 322,000-square-foot Lakefront Blocks – Building V (prelease
