February 8, 2022
The marquee location reflects its investment and growth in Bellevue and brings it closer to its tenants; company’s expansion in Puget sound region continues with acquisition of Dakota building, a 24,670-square-foot industrial building near airport way
SEATTLE, Wash. – Lake Washington Partners LLC, a Seattle-based, privately-owned and family-owned commercial real estate investor and developer focused on office and industrial properties across the United States, has announced today that it has moved its corporate headquarters from its 5,317-square-foot-space in Issaquah to a 13,844 -square-foot-space at 405 114th Ave. SE in Bellevue.
The marquee location in the Cordova building, which Lake Washington Partners owns, reflects its investment and growth in Bellevue and brings it closer to its tenants. In June 2021, Lake Washington Partners expanded its ownership presence on Seattle’s Eastside when it purchased Corporate Campus East, the three-building, 9-acre, 140,466-square-foot property, located at 3025 112th Ave. NE, 3055 112th Ave. NE and 3075 112th Ave. NE in Bellevue’s esteemed 520 Corridor. The company purchased Corporate Campus East from Kennedy Wilson Fund V, a commingled fund managed by Kennedy Wilson (NYSE: KW), a global real estate investment company, for approximately $62 million dollars. Lake Washington Partners’ family-owned
business model combined with its deep roots in the Bellevue market led to the company’s acquisition of the highly coveted address, which is anchored by Microsoft.
“We’re growing our portfolio in the thriving, strong, and enduring Bellevue market. We’re investing in Bellevue and in this community, and Bellevue is at the crossroads of where most of our transactions occur. Plus, this premier location brings us closer to our tenants and allows us to draw employees from all directions, including downtown Seattle,” said Lake Washington Partners President Jordan Lott.
Lake Washington Partners believes in the need for office space and having its employees working together in the office, rather than working remotely. The company thrives on collaboration and in building relationships, and the new office space was designed with an emphasis on creating spaces that support this.
“We have aggressive growth plans for the business, and we anticipate our new offices to be the hub that facilitates that growth. A place where workers come together to solve business challenges, not just a place for people to sit,” said Lott.
The new office features the following:
• Expansion of open office collaboration spaces;
• Increased number of conference rooms to encourage meetings in open spaces rather than in private offices, all while following COVID-19 protocols;
• New and modern breakroom with an open-to-structure ceiling and extra windows to bring in more natural light; breakroom also features a shuffleboard table and dart board.
• Wellness Room where employees can rest and recharge. Includes a Nursing Mothers station.
• Overall office aesthetic is modern, open, and inviting.
“The last 24 months have fundamentally changed the way companies use office space and our move allows for that – our space has been designed to be in line with the way people want to work. We focused on building a space that enhances Culture, Collaboration, and Coaching,” added Lott.
Built in 1982, the 39,975-square-foot Cordova building was renovated in 2009. Within walking distance of the Wilburton Park & Ride and the future East Main Light Rail station, the building is adjacent to the Bellevue Club and three hotels and has convenient access to I-405 and I-90. Sturtevant Creek runs through the property, offering a park-like setting.
Additionally, Lake Washington Partners continues its expansion in the greater Puget Sound region with the acquisition of the Dakota Building in Seattle. Located at 818 S. Dakota St., the 24,670-square-foot industrial building also offers more than 4,000 square feet of office space. With easy access to Airport Way South and I-5, the warehouse is ideally located. The Dakota building represents an excellent addition to the company’s “logistics” portfolio, which includes a variety of small bay industrial buildings.
Lake Washington Partners moved into Eastpointe, its Issaquah property that it owns, in December 2011 and it moved into its new Bellevue space this month.
About Lake Washington Partners LLC
Lake Washington Partners is a Seattle-based, privately-owned, and family-owned commercial real estate investor and developer, focused on office and industrial properties across the United States. Founded in 2006, Lake Washington Partners specializes in long-term investment through acquisition and development projects across nine states. It is a long-term investor in its properties, its tenants, and in the communities it serves. The company currently owns and operates more than nine million square feet of commercial properties nationwide.