BELLEVUE, Wash. – Sept. 26, 2016 – Ten-X, the nation’s leading online real estate marketplace, announces the upcoming sale of the Department of Ecology Building, a strategically located, 100-percent-leased office building in Bellevue, Wash., just outside the Seattle CBD. Ten-X Commercial, in partnership with CBRE, is selling the asset for its owner, Bellevue East LLC, via Ten-X’s Offer Select transaction method. The property is being offered with seller’s guidance of $17 million.
Offer Select allows sellers and brokers to accept signed offers immediately online and enables negotiation while giving buyers an exclusive diligence period to inspect properties before removing contingencies.
Located in a high-quality office park adjacent to Interstate 90 and across from tenants such as Microsoft, Boeing, REI, Verizon and Siemens, the Department of Ecology Building in July renewed its lease with the State of Washington for an additional five years. The State of Washington has indicated in a 6-year facilities plan that it will move the Department of Ecology out of the building at the end of the lease (June 30, 2021). The City of Bellevue is conducting a zoning overlay for the property that could potentially allow a 160,000-square-foot office or hotel property to be built, opening up a variety of leasing opportunities for the new owner.
“The Department of Ecology Building is a high-quality asset in an A-plus location that will benefit from the Ten-X Offer Select transaction method, which helps brokers and owners sell commercial real estate more efficiently and effectively than ever,” said Ten-X Commercial Real Estate Division General Manager Gordon Smith. “Offer Select combines world class technology and global marketing with the traditional transaction process to help meet investors’ demands on the proven Ten-X platform.”
The 60,423-square-foot Department of Ecology Building is a two-story, single-building structure located at 3190 160th Ave. South in East Bellevue. It was last renovated in 2007.
For more information, please click here or call 844-694-4976.
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Ten-X is the nation’s leading online real estate transaction marketplace and the parent to Ten-X Homes, Ten-X Commercial and Auction.com. To date, the company has sold 244,000+ residential and commercial properties totaling more than $41 billion. Leveraging desktop and mobile technology, Ten-X allows people to safely and easily complete real estate transactions online. Ten-X is headquartered in Irvine and Silicon Valley, Calif., and has offices in key markets nationwide. Investors in the company include Google Capital and Stone Point Capital. For more information, visit Ten-X.com.