{"id":1004398010,"date":"2020-03-06T06:54:33","date_gmt":"2020-03-06T14:54:33","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004398010"},"modified":"2020-03-06T06:54:33","modified_gmt":"2020-03-06T14:54:33","slug":"swift-real-estate-acquires-seattle-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/swift-real-estate-acquires-seattle-office-asset\/","title":{"rendered":"Swift Real Estate Acquires Seattle Office Asset"},"content":{"rendered":"<div id=\"attachment_1004398013\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Crestwood-Corporate-Plaza.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004398013\" data-attachment-id=\"1004398013\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/swift-real-estate-acquires-seattle-office-asset\/crestwood-corporate-plaza\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Crestwood-Corporate-Plaza.jpg\" data-orig-size=\"800,620\" 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=\"Crestwood Corporate Plaza\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Crestwood Corporate Plaza. &lt;i&gt; Image courtesy of Marcus &#038; Millichap&lt;\/i&gt;&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Crestwood-Corporate-Plaza.jpg?w=800\" class=\"wp-image-1004398013 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Crestwood-Corporate-Plaza.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Crestwood-Corporate-Plaza.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Crestwood-Corporate-Plaza.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Crestwood-Corporate-Plaza.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004398013\" class=\"wp-caption-text\">Crestwood Corporate Plaza. <i> Image courtesy of Marcus &amp; Millichap<\/i><\/p><\/div>\n<p>Swift Real Estate Partners has acquired Crestwood Corporate Plaza, a 153,317-square-foot office building in Bellevue, Wash., for $23.6 million. At the time of the sale, the building was 60 percent occupied. According to Yardi Matrix files, the property was sold by a private investor who had acquired the asset in a foreclosure transaction from Zions Bank for $5 million in 2003.&nbsp;<\/p>\n<p>Marcus &amp; Millichap represented both parties in the transaction. To close the deal, the brokerage firm had to arrange the sale of the neighboring law office, which the new owner plans to demolish to create more parking spaces, Senior Associate Leroy Lutu said in prepared remarks. Lutu added that the Bellevue office market is expected to increase three times over the next decade.<\/p>\n<p>Completed in 2001, the five-story property is located at 14725 SE 36th St. Amenities include a fitness center and 228 underground parking spaces for a parking ratio of 1.49 spaces per 1000 square feet. The building is roughly 11 miles from downtown Seattle, close to Interstate 90 and 2 miles from its intersection with Interstate 405.<\/p>\n<p>In January, Swift Real Estate obtained <a href=\"https:\/\/www.commercialsearch.com\/news\/swift-real-estate-lands-112m-refi-for-san-diego-campus\/\">a $112 million loan<\/a> to refinance Rancho Vista Corporate Center, an 817,000-square-foot campus in San Diego.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Built in 2001, the property changed hands for $23.6 million, more than four times the price it sold for in 2003.<\/p>\n","protected":false},"author":867,"featured_media":1004398013,"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":[34836,34208,48926],"class_list":["post-1004398010","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-office","category-seattle","category-west","tag-marcus-millichap","tag-swift-real-estate-partners","tag-zions-bank"],"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>Swift Real Estate Acquires Seattle Office Asset - 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\/swift-real-estate-acquires-seattle-office-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Swift Real Estate Acquires Seattle Office Asset\" \/>\n<meta property=\"og:description\" content=\"Built in 2001, the property changed hands for $23.6 million, more than four times the price it sold for in 2003.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/swift-real-estate-acquires-seattle-office-asset\/\" \/>\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=\"2020-03-06T14:54:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Crestwood-Corporate-Plaza.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=\"Pavel Cazacu\" \/>\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\/swift-real-estate-acquires-seattle-office-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/swift-real-estate-acquires-seattle-office-asset\/\",\"name\":\"Swift Real Estate Acquires Seattle Office Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/swift-real-estate-acquires-seattle-office-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/swift-real-estate-acquires-seattle-office-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Crestwood-Corporate-Plaza.jpg\",\"datePublished\":\"2020-03-06T14:54:33+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/caac04e9f88552f7c898ba456c2498d8\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/swift-real-estate-acquires-seattle-office-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/swift-real-estate-acquires-seattle-office-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/swift-real-estate-acquires-seattle-office-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Crestwood-Corporate-Plaza.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Crestwood-Corporate-Plaza.jpg\",\"width\":800,\"height\":620,\"caption\":\"Crestwood Corporate Plaza. 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