LPC West and Cerberus acquire office campus in Washington

LPC West, the West Coast arm of national real estate firm Lincoln Property Co., together with an affiliate of Cerberus Capital Management, has acquired Triton Towers. The office campus, located in Renton, Wash., encompasses more than 400,000 square feet across three mid-rise buildings.

Renton, which is near Seattle and Bellevue, has experienced a surge in demand for high-quality office space as a result of the significant expansion of Seattle employment into the area. The office campus includes three seven-story office buildings, prominent freeway frontage and visibility, abundant parking, outdoor common areas, a fitness center, and secure bike storage.

LPC West and Cerberus are planning a series of upgrades to the campus, including renovations to the building exteriors and lobbies of all three towers as well as the addition of a new tenant lounge and state-of-the-art conference facility in Tower II. Currently, the campus is 60 percent leased to a diverse mix of tena