Eastgate Office Center in Bellevue, Washington Acquired By ING Clarion Partners for $40 Million

Built in 1988, the two building, three-story complex enjoys excellent freeway visibility and is easily accessible to I-90, the main east-west thoroughfare between Bellevue and Seattle. Verizon Wireless is the primary tenant.

“It is increasingly difficult in the region to construct suburban office product with easy access to the Interstate freeway system, putting a premium on well located buildings like the Eastgate Office Center,” said Steve Latimer. “The property will benefit from both its ideal location and the projected continued demand for office space.”

ING Clarion has been an active investor in the Seattle area for over 15 years. Its current holdings in the area total approximately 3.3 million square feet and include office, industrial, retail and multi family, with a total value in excess of $500 million. The firm has been active in new construction as well, recently breaking ground on Riverpark, a 106,000 square foot office project in Redmond, Washington.