{"id":1004210554,"date":"2018-03-19T09:32:24","date_gmt":"2018-03-19T17:32:24","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004210554"},"modified":"2022-12-08T11:36:39","modified_gmt":"2022-12-08T19:36:39","slug":"seattle-area-class-a-office-asset-trades-for-15m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/seattle-area-class-a-office-asset-trades-for-15m\/","title":{"rendered":"Seattle-Area Class A Office Asset Trades for $15M"},"content":{"rendered":"<p>By Beata Lorincz<\/p>\n<div id=\"attachment_1004210556\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/11411-NE-124th-St.-in-Kirkland-Wash..jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004210556\" data-attachment-id=\"1004210556\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/seattle-area-class-a-office-asset-trades-for-15m\/11411-ne-124th-st-in-kirkland-wash\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/11411-NE-124th-St.-in-Kirkland-Wash.-e1521444525870.jpg\" data-orig-size=\"881,663\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Beata Lorincz&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1521212597&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"11411 NE 124th St. in Kirkland, Wash.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;11411 NE 124th St. in Kirkland, Wash.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/11411-NE-124th-St.-in-Kirkland-Wash.-e1521444525870.jpg?w=881\" class=\"wp-image-1004210556 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/11411-NE-124th-St.-in-Kirkland-Wash.-e1521444525870.jpg\" alt=\"11411 NE 124th St. in Kirkland, Wash.\" width=\"300\" height=\"226\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/11411-NE-124th-St.-in-Kirkland-Wash.-e1521444525870.jpg 881w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/11411-NE-124th-St.-in-Kirkland-Wash.-e1521444525870.jpg?resize=300,226 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/11411-NE-124th-St.-in-Kirkland-Wash.-e1521444525870.jpg?resize=768,578 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004210556\" class=\"wp-caption-text\">11411 NE 124th St. in Kirkland, Wash.<\/p><\/div>\n<p>PJP Group LLC has purchased a fully leased <a href=\"https:\/\/www.commercialsearch.com\/news\/seattle-office-tower-trades-for-268m\/\">Class A office building<\/a> in Kirkland, Wash. Claddagh Ventures LLC sold the property for $14.8 million, in a 1031 exchange deal. NAI Hunneman,\u00a0in a collaboration\u00a0with NAI Puget Sound Properties, represented the seller and procured the buyer.<\/p>\n<p>The property at 11411 N.E. 124th St. is part of the Kirkland 405 Corporate Center, which is 100 percent occupied. The campus is situated in the Totem Lake neighborhood and offers easy access to Interstate 405, while being surrounded by various retail centers. The 41,405-square-foot\u00a0building encompasses two levels of office space and one story of covered parking. On-site amenities include a fitness center, conference room and storage areas, as well as new HVAC system and controls.<\/p>\n<p>Executive Vice President Robert Tito of NAI Hunneman worked together on the seller\u2019s end with Partner Wyk Parker of NAI Puget Sound, while CBRE\u2019s Zac Snedeker brokered the deal on behalf of the buyer.<\/p>\n<p><em>\u201cUsing the power of our NAI network, we were able to work together garnering maximum exposure and were able to achieve a record price per square in the Greater Seattle office submarket,\u201d<\/em> said Tito, in prepared remarks. <em>\u201cWhile there was an abundance of interest, we were able to identify a 1031 exchange buyer who pre-empted the marketing process by submitting an aggressive offer in terms of price and terms.\u201d<\/em><\/p>\n<p><em>Image via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PJP Group LLC has acquired the 41,405-square-foot, 100 percent leased office building in Kirkland at a record price per square foot.<\/p>\n","protected":false},"author":739,"featured_media":1004508570,"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":[35213],"class_list":["post-1004210554","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-office","category-seattle","category-west","tag-nai-hunneman"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Seattle-Area Class A Office Asset Trades for $15M - 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\/seattle-area-class-a-office-asset-trades-for-15m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Seattle-Area Class A Office Asset Trades for $15M\" \/>\n<meta property=\"og:description\" content=\"PJP Group LLC has acquired the 41,405-square-foot, 100 percent leased office building in Kirkland at a record price per square foot.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/seattle-area-class-a-office-asset-trades-for-15m\/\" \/>\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=\"2018-03-19T17:32:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T19:36:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/11411-NE-124th-St.-in-Kirkland-Wash..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1105\" \/>\n\t<meta property=\"og:image:height\" content=\"786\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Beata Lorincz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/seattle-area-class-a-office-asset-trades-for-15m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/seattle-area-class-a-office-asset-trades-for-15m\/\",\"name\":\"Seattle-Area Class A Office Asset Trades for $15M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/seattle-area-class-a-office-asset-trades-for-15m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/seattle-area-class-a-office-asset-trades-for-15m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/11411-NE-124th-St.-in-Kirkland-Wash..jpg\",\"datePublished\":\"2018-03-19T17:32:24+00:00\",\"dateModified\":\"2022-12-08T19:36:39+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/23f841021ddf3b38ebc56abefe1d6004\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/seattle-area-class-a-office-asset-trades-for-15m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/seattle-area-class-a-office-asset-trades-for-15m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/seattle-area-class-a-office-asset-trades-for-15m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/11411-NE-124th-St.-in-Kirkland-Wash..jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/11411-NE-124th-St.-in-Kirkland-Wash..jpg\",\"width\":1105,\"height\":786},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/seattle-area-class-a-office-asset-trades-for-15m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Seattle-Area Class A Office Asset Trades for $15M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/23f841021ddf3b38ebc56abefe1d6004\",\"name\":\"Beata Lorincz\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Beata-Lorincz.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Beata-Lorincz.jpg?w=96\",\"caption\":\"Beata Lorincz\"},\"description\":\"With a background in architecture, Beata Lorincz has been an associate editor with Commercial Property Executive and Multi-Housing News since 2017. Her current work centers around architecture and design, the student housing sector and data-driven updates on the office market.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/beata-lorincz\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Seattle-Area Class A Office Asset Trades for $15M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/seattle-area-class-a-office-asset-trades-for-15m\/","og_locale":"en_US","og_type":"article","og_title":"Seattle-Area Class A Office Asset Trades for $15M","og_description":"PJP Group LLC has acquired the 41,405-square-foot, 100 percent leased office building in Kirkland at a record price per square foot.","og_url":"https:\/\/www.commercialsearch.com\/news\/seattle-area-class-a-office-asset-trades-for-15m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2018-03-19T17:32:24+00:00","article_modified_time":"2022-12-08T19:36:39+00:00","og_image":[{"width":1105,"height":786,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/11411-NE-124th-St.-in-Kirkland-Wash..jpg","type":"image\/jpeg"}],"author":"Beata Lorincz","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/seattle-area-class-a-office-asset-trades-for-15m\/","url":"https:\/\/www.commercialsearch.com\/news\/seattle-area-class-a-office-asset-trades-for-15m\/","name":"Seattle-Area Class A Office Asset Trades for $15M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/seattle-area-class-a-office-asset-trades-for-15m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/seattle-area-class-a-office-asset-trades-for-15m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/11411-NE-124th-St.-in-Kirkland-Wash..jpg","datePublished":"2018-03-19T17:32:24+00:00","dateModified":"2022-12-08T19:36:39+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/23f841021ddf3b38ebc56abefe1d6004"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/seattle-area-class-a-office-asset-trades-for-15m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/seattle-area-class-a-office-asset-trades-for-15m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/seattle-area-class-a-office-asset-trades-for-15m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/11411-NE-124th-St.-in-Kirkland-Wash..jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/11411-NE-124th-St.-in-Kirkland-Wash..jpg","width":1105,"height":786},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/seattle-area-class-a-office-asset-trades-for-15m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Seattle-Area Class A Office Asset Trades for $15M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/23f841021ddf3b38ebc56abefe1d6004","name":"Beata Lorincz","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Beata-Lorincz.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Beata-Lorincz.jpg?w=96","caption":"Beata Lorincz"},"description":"With a background in architecture, Beata Lorincz has been an associate editor with Commercial Property Executive and Multi-Housing News since 2017. Her current work centers around architecture and design, the student housing sector and data-driven updates on the office market.","url":"https:\/\/www.commercialsearch.com\/news\/author\/beata-lorincz\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/11411-NE-124th-St.-in-Kirkland-Wash..jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004210554","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/739"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004210554"}],"version-history":[{"count":7,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004210554\/revisions"}],"predecessor-version":[{"id":1004616824,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004210554\/revisions\/1004616824"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004508570"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004210554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004210554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004210554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}