Project Name: West Parc
Capstone Partners and RREEF formed a partnership to redevelop this 1980’s business park. The 21 building 750,000 square foot complex was 69% occupied at the formation of the joint venture. Half of the buildings were two story concrete buildings with mezzanine office and half were single story manufacturing / office facilities. The zoning for the project was split between Business Park (BP) and Manufacturing Park (MP). Average rents across the project were under $12 nnn. Capstone, RREEF, a leasing team from CB Richard Ellis embarked on an ambitious re-vitalization plan which included building upgrades to 19 of the 21 buildings, branding, and building redevelopment. The project was 94% leased in 24 months.
Transaction Type: Re-Development
Location: Redmond, WA
Size: 750,000 SF
Building Type: Business Park