Curious to know what ranks as the number one biggest sale of the year on the Eastside? Coming in at a staggering $202.7 Million, One Twelfth @ Twelfth takes the title for 2016.
Source: The Seattle Times, Eastside’s Biggest Sale of the Year article.
A major office complex located on 112th Avenue NE in downtown Bellevue recently sold for a year high of $202.7 million to a group of foreign investors based out of New Mexico and China.
Currently occupied by major companies including CenturyLink, Nokie Solutions Network, VoiceBox Technologies and BitTitan, the workspace covers an astounding 480,000 square feet.
Previous owner, Principal Real Estate Investors from Iowa, purchased the property for $134.1 million in 2004 shortly after the three buildings were built – now selling the complex for more than a 50% return on investment!
New Mexico’s Gemini Rosemont Commercial Real Estate and their partners Gemini Investments based out of Hong Kong, have recently stated Bellevue’s “highly skilled work force” drew them to invest in the Eastside and purchase the One Twelfth @ Twelfth office complex.
Officially the biggest sale of the year on the Eastside with 2 weeks left to round out 2016, this sale ranks among the top 10 all time largest sales for all of King County, surpassing the $193 million sale of the Civica Commons Office Building in downtown Bellevue that closed escrow last month. While Seattle remains the largest contributor to the regions top jaw dropping sales, Bellevue is starting to follow in its footsteps and proving to be a true contender.
The growing number of real estate sales on the Eastside of Lake Washington has not only been limited that of commercial properties, residential sales have been growing every year too and Brazen Sotheby’s International Realty (Brazen SIR) continues to be a large contributor to these rising numbers!
Three noteworthy residential sales on the Eastside:
The first of three noteworthy sales includes the $4,500,000.00 sale of a beautiful waterfront home of Yarrow Point, Washington. Located on a park-like 16,225 square foot lot, this home nestled in prestigious Cozy Cove, offered 80 feet of west facing Lake Washington waterfront with panoramic views of Hunts Point, step outside to a waterfront oasis including a grassy lawn and a 60 foot dock in impeccable condition.
Next, another stunning waterfront home located in Kirkland, Washington closing escrow at $3,955,160.00, a rare opportunity to own a 4 bedroom, 3.5 bath home as well as an income producing duplex, this sale offered luxury living and an investment opportunity. For someone interested in living the complete luxury lifestyle, this home offered everything you could desire with sweeping views of Lake Washington and the Seattle skyline. It was no surprise that this home sold after only 23 days on the market.
Rounding out our selection of the top 2016 noteworthy residential sales, a timeless home located on the shores of Lake Sammamish comes in at a sales price of $3,300,000.00 and after just two short days on the market sold for over asking price. Boasting a private dock with its own boathouse, private sand shoreline and an office that overlooks the lake, this home truly was one of the most desired on Lake Sammamish.