Seattle, Wash. (April 11, 2017) - Pacific Cataract and Laser Institute has purchased the Sweeney Conrad Building, located at 2606 116th Avenue NE in Bellevue, for $13,500,000. Jeff Chaney, a senior vice president with Kidder Mathews commercial real estate firm, represented PCLI in the transaction.
The 33,155 square foot, Class A office building is located in close proximity to Interstate 405 and State Route 520. It is just north of the 36-acre Spring District that is currently under development. The Spring District is a mixed-use project featuring office, retail, and residential uses. It will bring numerous amenities and vibrancy to the area surrounding the Sweeney Conrad Building.
PCLI has been located in downtown Bellevue for over 25 years. They will now move into the two-story Sweeney Conrad Building and occupy the entire first floor. Sweeney Conrad, a locally owned certified public accounting firm, will remain as a tenant in the building.
"Demand for owner user buildings in the Bellevue area is high. Buildings smaller than 50,000 square feet may be worth more vacant than full given the fact that, due to fast rising rents and low interest rates, there are many tenants in the market looking to own their own real estate," said Chaney.
About Kidder Mathews
Kidder Mathews is one of the largest independently owned commercial real estate firms on the West Coast, with over 650 real estate professionals and staff in 20 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, sustainability, and project and construction management services for all property types. The firm performs $5.6 billion in transactions, manages over 45 million square feet of space, and conducts 1,300 appraisals annually. For more information, visit kiddermathews.com.