{"id":1004184420,"date":"2017-07-19T05:59:36","date_gmt":"2017-07-19T13:59:36","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004184420"},"modified":"2022-12-07T20:13:30","modified_gmt":"2022-12-08T04:13:30","slug":"mrm-capital-buys-seattle-office-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/mrm-capital-buys-seattle-office-campus\/","title":{"rendered":"MRM Capital Buys Seattle Office Campus"},"content":{"rendered":"

By Veronica Grecu<\/em><\/p>\n

\"Plaza<\/a>

Plaza at North Creek in Bothell, Wash.<\/p><\/div>\n

Equity Office Properties Trust recently sold a two-building office campus in suburban Seattle in a transaction valued at $35.5 million.<\/p>\n

HFF marketed the Plaza at North Creek on behalf of the seller and procured the buyer, Cincinnati-based real estate investment firm MRM Capital. Senior Managing Director Nick Kucha and Director Dave Otis led the HFF investment sales team representing the seller.<\/p>\n

According to Yardi Matrix, the sale was funded through a $22 million loan originated by Bank of America<\/a>.<\/p>\n

Suburban Class A Office Space in Great Demand\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong><\/h2>\n

Built in 1990, the Plaza at North Creek is located in Bothell, roughly 13 miles northeast of downtown Seattle, with easy access to I-405 and SR-522. The office campus totals 194,074 square feet of Class A space and incorporates two three-story buildings located at 18911 and 19015 North Creek Parkway. The property also includes parking amenities at a rate of four spaces per 1,000 square feet.<\/p>\n

\u201cThe Plaza at North Creek\u2019s superb Class A office space has allowed the park to consistently outperform the Bothell submarket, maintaining a 10-year historical average occupancy of 92 percent, 600 basis points higher than the Bothell submarket historical average of 86 percent,\u201d<\/em> said Kucha in prepared remarks.<\/p>\n

The Plaza at North Creeks is anchored by Allstate Insurance Co.\u2019s Northwest regional office. SNC-Lavalin and ConnectWise Sell are also listed as tenants at the office campus.<\/p>\n

Images courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The property was completed in 1990 and incorporates nearly 195,000 square feet of Class A office space anchored by Allstate Insurance.<\/p>\n","protected":false},"author":258,"featured_media":1004184444,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21742,21747,1610,15],"tags":[33097,33250,33781,32792],"class_list":["post-1004184420","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-office","category-seattle","category-west","tag-allstate","tag-bank-of-america","tag-equity-office","tag-hff"],"acf":[],"yoast_head":"\nMRM Capital Buys Seattle Office Campus - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/mrm-capital-buys-seattle-office-campus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MRM Capital Buys Seattle Office Campus\" \/>\n<meta property=\"og:description\" content=\"The property was completed in 1990 and incorporates nearly 195,000 square feet of Class A office space anchored by Allstate Insurance.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/mrm-capital-buys-seattle-office-campus\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-07-19T13:59:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T04:13:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Plaza-at-North-Creek-Plaza-East.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Veronica Grecu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@VeraGrecu\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mrm-capital-buys-seattle-office-campus\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mrm-capital-buys-seattle-office-campus\\\/\"},\"author\":{\"name\":\"Veronica Grecu\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/e8362e8641769829162f16fe58091f62\"},\"headline\":\"MRM Capital Buys Seattle Office Campus\",\"datePublished\":\"2017-07-19T13:59:36+00:00\",\"dateModified\":\"2022-12-08T04:13:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mrm-capital-buys-seattle-office-campus\\\/\"},\"wordCount\":246,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mrm-capital-buys-seattle-office-campus\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/07\\\/Plaza-at-North-Creek-Plaza-East.jpg\",\"keywords\":[\"Allstate\",\"Bank of America\",\"Equity Office\",\"HFF\"],\"articleSection\":[\"Deals\",\"Investment\",\"News\",\"Office\",\"Seattle\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mrm-capital-buys-seattle-office-campus\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mrm-capital-buys-seattle-office-campus\\\/\",\"name\":\"MRM Capital Buys Seattle Office Campus - 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