Friday, November 6, 2009

Expedia Tower Ready To Sell For $400 PSF

Expedia Tower, a Class A + building located in the Bellevue CBD at 108th Ave NE and NE 4th Street, is set to sell for $166,000,000 or roughly $400 PSF. Tenants of the 415,000 SF building include Expedia (approximately 80% of the building), Pokemon, Nortel Networks, and Core Bank. The buyer of the 20 story structure is HRPT, a REIT which owns around 66 million square feet of office and industrial property throughout the US. Bellevue Corporate Plaza, for example, is one of HRPT's local assetts.
Expedia Tower is LEED Gold, 97% occupied, and has about 1,000 parking stalls onsite. Construction on this building finished in 2008 and was developed by a partnership which included Houston-based Hines.

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