KBS Inks New 16,024-square-foot Lease in Seattle Submarket
TerraPower signs new lease at Ridgewood Corporate Square in Bellevue, Wash.
BELLEVUE, Wash. – April 3, 2012 – (RealEstateRama) — KBS Realty Advisors of Newport Beach, Calif., one of the nation’s leading commercial real estate investment advisors, has signed a new, 16,024-square-foot lease with TerraPower at its 240,518-square-foot Ridgewood Corporate Square in Bellevue, Wash., 10 miles east of downtown Seattle. Completed in 1990, the 92.5-percent-occupied property was acquired by KBS in 2009.
TerraPower, a nuclear reactor design company, is relocating from another Bellevue address to the entire first floor of Ridgewood Corporate Square’s Building C. Pete Hollomon of CBRE in Bellevue represented the tenant while Scott Davis, also of CBRE in Bellevue, negotiated for KBS.
Ridgewood Corporate Square is a seven-building office park located a mile east of downtown Bellevue at the I-405 and I-90 interchange. Considered one of the area’s premiere campus-style developments, the project offers an on-site health club and 967 parking spaces. Other property tenants include City University, Healthcare Management Administrators and Network Computing Architects.
In addition to Ridgewood Corporate Square, KBS-affiliated companies own three other Seattle-Tacoma-Bellevue metropolitan area properties for a combined total of 592,494 square feet: Olympic Block in Seattle, Continental Plaza in Kirkland, and the North Creek Parkway Center in Bothell.
About KBS
KBS Realty Advisors is a private equity real estate company and SEC-registered investment advisor founded in 1992 by Peter Bren and Chuck Schreiber. Since 1992, KBS Realty Advisors and its affiliated companies have completed transactional activity of more than $22 billion via 14 separate accounts, six commingled funds, five sovereign wealth funds and five non-traded REITs. For information, visit www.kbsrealty.com.
Media Contact:
Cindy Tullues or Bob Ochsner
DGWB for KBS Realty Advisors
(714) 881-2310
ctullues (at) dgwb (dot) com
bochsner (at) dgwb (dot) com
