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| One Esterra Park, a transit-oriented, Class A office development adjacent to Microsoft’s world headquarters in Redmond, WA |
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| Ben Bullock |
SAN FRANCISCO, CA –– Holliday Fenoglio Fowler, L.P. (HFF)
announces that it has secured joint venture equity and construction financing
totaling $154.7 million for the development of One Esterra Park, a
transit-oriented, Class A office development located adjacent to Microsoft’s
world headquarters in Redmond, Washington.
Working on behalf of Capstone Partners, LLC, HFF sourced equity capital
from an institutional investor and then on behalf of the joint venture secured
the construction loan with US Bank.
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| Charles Halladay |
The project is the next phase of the three million-square-foot Esterra
Park live-work-play master planned community in suburban Seattle.
With an estimated
completion in fourth quarter 2020, One Esterra Park will offer 245,000 square
feet of Class A office space in a six-story building designed with technology
tenants in mind.
The property is being built to LEED Silver
standards and will feature average floor plates of 40,000 square feet, robust
amounts of power and mechanical infrastructure and collaborative common areas
that will foster innovation and productivity.
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| Bruce Ganong |
One Esterra Park is
positioned on a 2.2-acre site at 15550 NE Turing Street immediately adjacent to
the world headquarters of Microsoft and near many of the area’s large and
expanding economic drivers such as Facebook, Amazon and Google.
Additionally, the project is adjacent to the
future Overlake Village Transit Station and the future State Route 520 off-ramp
providing connectivity to major area thoroughfares, including Interstates 405
and 90.
The HFF debt and equity placement team included Ben Bullock, Charles Halladay, Bruce Ganong, Zach Goodwin, Michael Leggett and Tom Wilson.
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| Zack Goodwin |
About Capstone Partners
Formed in 2002, Capstone Partners plans, finances, implements and
manages commercial real estate investments for investors and organizations in
the Pacific Northwest and is one of the most active developers in the region
with offices in both Seattle and Portland.
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| Michael Leggett |
underway.
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| Tom Wilson |
CONTACTS:
TOM WILSON
HFF Senior Managing Director
(503) 224-3311
BRUCE GANONG
HFF Senior Managing Director
(415) 276-6940
KRISTEN MURPHY
HFF Director, Public Relations
(617) 848-1572
