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| Rendering of planned Centre 425, Bellevue, WA Rendering by Neeoscape |
NEW YORK, NY –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has secured a $95.5 million
construction loan for Centre 425, a
16-story, 362,988-square-foot, trophy office project with ground floor retail
space in Bellevue, Washington.
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| Jennifer Keller |
Working on behalf of
Schnitzer West, LLC, a leading West Coast real estate investment and
development company, and an institutional investor, HFF placed the loan with a
national bank. This is the second
construction financing HFF has secured on behalf of Schnitzer for Seattle-area
development projects in the last year.
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| Michael Tepedino |
Centre 425 broke ground in
December 2014 at 425 106th Ave. N.E. at the northwest corner of N.E. 4th Street
and 106th Ave. N.E. in the heart of downtown Bellevue.
The property is situated
within two blocks of the Bellevue Transit Center and within four blocks of
Interstate 405 on the shores of Lake Washington, about 10 miles east of
downtown Seattle.
Upon completion in fourth
quarter 2016, the Class A office development will feature a modern design,
flexible floor plates allowing for optimal layouts and innovative
workspaces.
Centre 425 was designed
from the inside out and is tailored to support the demanding needs of today’s
business. This starts with an updated version
of Schnitzer’s signature “Great Room” concept, named “The Exchange”, a communal
collaborative workspace with a variety of meeting rooms and “third-workplace”
spaces built into the common areas.
Schnitzer is also debuting “The Vue”, a
spectacular rooftop conference and hospitality center featuring a flexible
indoor and outdoor conference center, two beautifully landscaped terraces and
panoramic views of Lake Washington, downtown Seattle and Mt. Rainier.
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| Tom Wilson |
This feature is one of a
kind in Bellevue, and will be for the exclusive use of the office tenants in
the project.
Additional building
amenities will include a fitness center with locker rooms and wellness center,
bike lockers, business center, quiet rooms, concierge service and an
eight-level, 739-space subterranean parking garage.
Centre 425 will have 8,747 square feet of
retail space divided into a 6,289-square-foot condominium sold to Bank of
America as well as 2,458 square feet of retail space, which is planned to be a
high end coffee shop.
The HFF debt placement
team was led by senior managing director Michael
Tepedino, managing director Tom
Wilson and director Jennifer Keller.
For a complete copy of the company’s news release,
please contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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