Hines pays $205m for Bellevue office campus
Hines has acquired Civica Office Commons,a 323,562-square-foot class A office portfolio in Bellevue, Wash. The sales price was $205.1 million or $671 per square foot.
The seller was Brickman Associates, which paid $176.8 million in 2006.
Developed in 2001, Civica consists of a two-building portfolio connected by a common atrium. The buildings are six and eight stories, respectively, and total 323,562 square feet of class A office space. Onsite amenities include a concierge, Seastar restaurant, Starbucks, a Wells Fargo bank branch, hotel-style valet parking, a fitness center with lockers and towel service, and state-of-the-art conference facilities. And the property has 1,160 spaces of underground parking. The building is 90 percent occupied. Other major tenants include Waggener Edstrom, Microsoft, MetLife and Morgan Stanley.
Ty Bennion, senior managing director at Hines, said i