{"id":1004288495,"date":"2018-12-28T06:09:11","date_gmt":"2018-12-28T14:09:11","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004288495"},"modified":"2022-12-08T11:19:10","modified_gmt":"2022-12-08T19:19:10","slug":"equus-acquires-seattle-area-complex-for-38m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/equus-acquires-seattle-area-complex-for-38m\/","title":{"rendered":"Equus Acquires Seattle-Area Complex for $38M"},"content":{"rendered":"<p>By Holly Dutton<\/p>\n<div id=\"attachment_1004288498\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Dv59GSk--e1545927117341.jpeg\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004288498\" data-attachment-id=\"1004288498\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/equus-acquires-seattle-area-complex-for-38m\/dv59gsk\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Dv59GSk--e1545927117341.jpeg\" data-orig-size=\"1336,1003\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&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;0&quot;}\" data-image-title=\"Dv59GSk-\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Highlands Campus Tech Centre&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Dv59GSk--e1545927117341.jpeg?w=1024\" loading=\"lazy\" class=\"wp-image-1004288498 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Dv59GSk--e1545927117341.jpeg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Dv59GSk--e1545927117341.jpeg 1336w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Dv59GSk--e1545927117341.jpeg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Dv59GSk--e1545927117341.jpeg?resize=768,577 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/Dv59GSk--e1545927117341.jpeg?resize=1024,769 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004288498\" class=\"wp-caption-text\">Highlands Campus Tech Centre<\/p><\/div>\n<p>Equus Capital Partners has acquired the Highlands Campus Tech Centre, a three-building office and flex complex in Bothell, Wash., for $38.1 million from Investcorp.<\/p>\n<p>The 201,766-square-foot property is situated on 13.9 acres about 20 miles from downtown Seattle. The property consists of one two-story office building and two two-story flex R&amp;D buildings with a parking ratio of 3.5 spaces per 1,000 square feet, according to Yardi Matrix data.<\/p>\n<p>Located within Canyon Park, the complex provides convenient access to Interstate 405 and State Route 527. Built in 1999 and 2000, the property was 97 percent leased at the time of acquisition, with occupancy expected to drop to 70 percent in the near term due to pending lease expirations.&nbsp;<\/p>\n<p><em>\u201cGiven the dearth of available space throughout the eastside market, Bothell has seen a recent surge in demand supported by the technology, life-science, aerospace, and communications industries,&#8221;<\/em> said Robert Butchenhart, vice president of Equus, in prepared remarks. &#8220;<em>The Highlands Campus Tech Centre represents an attractive investment opportunity for our firm in a growing sub-market within one of the most dynamic markets in the country.&#8221;&nbsp;&nbsp;<\/em><\/p>\n<p>Equus plans to reposition the assets through planned physical improvements.&nbsp;Kevin Shannon, Nick Kucha and Bill DeLacy of Newmark Knight Frank represented the seller in the deal.<\/p>\n<p>In October, Equus <a href=\"https:\/\/www.commercialsearch.com\/news\/equus-capital-acquires-suburban-philly-office-building\/\">acquired a suburban Philadelphia office building<\/a> with nearly 300,000 square feet.&nbsp;<\/p>\n<p><em>Image courtesy of Equus<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The tech campus is located in the Bothell submarket and consists of more than 200,000 square-feet of office and flex space. Investcorp was the seller in the transaction.<\/p>\n","protected":false},"author":745,"featured_media":1004288498,"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":[33346,32882,36007],"class_list":["post-1004288495","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-office","category-seattle","category-west","tag-equus-capital-partners","tag-investcorp","tag-newmark-knight-frank"],"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>Equus Acquires Seattle-Area Complex for $38M - 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\/equus-acquires-seattle-area-complex-for-38m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Equus Acquires Seattle-Area Complex for $38M\" \/>\n<meta property=\"og:description\" content=\"The tech campus is located in the Bothell submarket and consists of more than 200,000 square-feet of office and flex space. 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