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HAL Sells Corporate Campus East

SEATTLE-A separate account of CB Richard Ellis Advisors pays $38.63 million for the 135,490-sf campus.

By Brian K. Miller | Updated on October 16, 2006

SEATTLE-Three buildings totaling 135,490 sf at the Corporate Campus East office development in Renton has changed hands for $38.63 million. Locally based HAL Real Estate Investments sold buildings A-C to a separate account client of CB Richard Ellis Investors.

Corporate Campus East is a seven-building park located near the intersection of I-405 and SR-520 that was developed in the early 1980s. The development is known for being the original Microsoft campus and Microsoft remains the property’s largest tenant. Other tenants include IKON, Wood Harbinger and Re/Max.

HAL Real Estate purchased the buildings in 2000 and invested in all new interior finishes. The three buildings have about 14,000 sf of vacancy. The asking rent is $18.50 per sf, according to GVA Kidder Mathews, which has had the leasing assignment.

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