West Parc

Project Name: West Parc

 

Overview

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

© Capstone Partners 2015

Portland:  (503) 226-1972

 

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