Seattle, Wash. (March 28, 2018) - Nicola Crosby, a real estate asset management subsidiary of Vancouver-based Nicola Wealth Management Ltd, has purchased Swift Gateway, a 68,290 square foot office building in Bellevue, Washington, for $25,500,000. The seller was Swift Real Estate Partners, an independent real estate investment firm, based in San Francisco. Kidder Mathews commercial real estate brokers, Joe Lynch and Andy Miller, facilitated the transaction between the two firms.
The three-story, Class A office building was fully renovated in 2016. It is located at 915 118th Avenue SE, southeast of downtown Bellevue. It has immediate access to I-405 and I-90 and is within walking distance to the South Bellevue Park and Ride.
"The deal indicates that suburban office product is continuing to attract a significant amount of investment interest due to strong fundamentals in the market and the higher yields compared to the central business districts," said Lynch.
About Kidder Mathews
Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast, with over 700 real estate professionals and staff in 21 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, project & construction management, and debt & equity finance services for all property types. The firm performs $7 billion in transactions, manages over 50 million square feet of space, and conducts over 1,500 appraisals annually. For more information, visit kiddermathews.com.