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June 29, 2018

Bellevue offices sell for $3.2M

Seattle Daily Journal of Commerce

BELLEVUE - An office building at 12503 Bel-Red Road has sold for almost $3.2 million, according to King County records. The seller was Shulter Properties LLC, which acquired the property in 1997 for $720,000.

The buyer was Bel Red Properties LLC, which is associated with a tax firm that leases space next door at 12505 Bel-Red Rd.

Jeff Chaney and Alex Wheatley of Kidder Mathews represented the seller. The deal was worth $414 per square foot, according to KM.

Developed in 1983 on a little over a half-acre, the two-story Forum South Building has 7,642 square feet, according to KM. Tenants include Shulter Consulting Engineers and the Synthesis architecture firm.

The property is just south of Bel-Red Road, east of Lake Bellevue and walkable to the Spring District, where light rail service will begin in 2023.

For the full story, go to Seattle Daily Journal of Commerce.

©Copyright 2018 Seattle Daily Journal of Commerce

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