Class A office asset in Kirkland, Washington trades

SEATTLE, December 21, 2020 – JLL Capital Markets announced today that it has completed the off-market sale of Waterfront Place on Yarrow Bay, a 52,828-square-foot office building in Kirkland, Washington.

JLL represented the seller, a discretionary investment fund managed by American Realty Advisors, and partnered with the Broderick Group to procure the buyer.

Waterfront Place on Yarrow Bay is located at 5209 Lake Washington Boulevard approximately 10 miles northeast of downtown Seattle on the east side of Lake Washington. The building is directly adjacent to the Yarrow Bay Marina and Yarrow Bay and is convenient to Interstate 405 providing north/south access throughout the area.

The property was 100% leased at closing to Bluetooth SIG, Inc. among other tenants.

The JLL team representing the seller was led by Senior Director Logan Greer, Managing Director Buzz Ellis and Senior Managing Director Gerry Rohm along with Managing Director Mark Flippo and Senior Vice President Sam Ziemba.

“Office investor interest remains strong for the Seattle market given the long-term strength of the underlying market fundamentals – the booming tech market, intellectual capital and low cost of living when compared to other major West Coast markets,” Greer said.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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