{"id":1004052207,"date":"2012-06-09T07:33:55","date_gmt":"2012-06-09T15:33:55","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=51492"},"modified":"2022-12-08T18:03:49","modified_gmt":"2022-12-09T02:03:49","slug":"kilroys-330m-buying-spree-expands-puget-sound-footprint","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/kilroys-330m-buying-spree-expands-puget-sound-footprint\/","title":{"rendered":"Kilroy\u2019s $330M Buying Spree Expands Puget Sound Footprint"},"content":{"rendered":"<p>By Alex Girda, Associate Editor<\/p>\n<p>With $330 million in acquisitions closed\u00a0or under contract, Kilroy Realty Corp. is\u00a0cementing its status\u00a0as\u00a0a leading Puget Sound office owner.\u00a0Last week the Los Angeles-based investement firm reported that it\u00a0spent\u00a0$145 million in two separate transactions to assemble a 417,000-square-foot campus\u00a0in Seattle&#8217;s South Lake Union district, where Amazon&#8217;s development of a 3 million square-foot campus is<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/06\/060612-Fremont_Lake_Union_Center.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"alignright size-full wp-image-51520\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/06\/060612-Fremont_Lake_Union_Center.jpg\" alt=\"\" width=\"300\" height=\"207\" \/><\/a> spurring intense interest from buyers and developers.<\/p>\n<p>In the larger of\u00a0the two\u00a0deals, Kilroy\u00a0bought Fremont Lake Union Center from Metzler North America Corp., for $107 million, the Seattle Times reported. According to information on Metzler\u2019s Web site, the two-building asset encompasses 297,000 square feet and was completed in 1999.<\/p>\n<p>In a separate $39 million transaction, Kilroy acquired Fremont Lake View, a neighboring 111,304-square-foot office building located at 837 North 34<sup>th<\/sup> Street. The seller, Stockbridge Capital Group,\u00a0acquired the property through a foreclosure sale in late 2010, according to an archived press release on Stockbridge\u2019s Web site. A listing on the officespace.com Web site says that Fremont Lake View was completed in 2009.<\/p>\n<p>Collectively the three buildings are 100 percent occupied and include such tenants as Adobe, Inc., Tableau Software and the software company Ubermind, an affiliate of Deloitte. Kilroy said that the aggregate purchase price includes $34 million in debt \u00a0but did not specify how much of that total is associated with each of the two transactions.<\/p>\n<p>Also in the works is Kilroy\u2019s $186 million acquisition of Skyline Tower, a 417,000-square-foot, 24-story Class A office building in Downtown Bellevue. Currently owned by Boston-based Beacon Capital Partners, the 29-year-old building\u00a0is 92 percent leased to tenants that include\u00a0Expedia and Valve Corp. The transaction is scheduled to close during the third quarter and\u00a0would include assumption of $84 million in debt.<\/p>\n<p>For a more in-depth take on Kilroy&#8217;s\u00a0latest Puget Sound deals, click <strong><a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/west\/kilroy-makes-145m-move-on-two-seattle-office-properties-preps-for-186m-more\/\">here.<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Alex Girda, Associate Editor With $330 million in acquisitions closed&nbsp;or under contract, Kilroy Realty Corp. is&nbsp;cementing its status&nbsp;as&nbsp;a leading Puget Sound office owner.&nbsp;Last week the Los Angeles-based investement firm reported that it&nbsp;spent&nbsp;$145 million in two separate transactions to assemble a 417,000-square-foot campus&nbsp;in Seattle&rsquo;s South Lake Union district, where Amazon&rsquo;s development of a 3 million [&#8230;]<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1610],"tags":[],"class_list":["post-1004052207","post","type-post","status-publish","format-standard","hentry","category-latest","category-seattle"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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