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Broadreach Buys Riverview Plaza From Rreef

RENTON, WA-The 171,000-sf office campus here sells for $27.6 million. The development is 90% leased. Cosmetic upgrades are planned.

By Brian K. Miller | Updated on February 20, 2007

RENTON, WA-Broadreach Capital Partners has acquired the three-building Riverview Plaza office development here from Rreef for $27.6 million. The 171,000-sf campus on the Green River is approximately 90% leased.

Broadreach believes Riverview’s in-place rental rates lag the market, creating an opportunity for the company to capture value as it applies its repositioning program to existing vacancy and near-term rollover activity. The company has selected Pacific Real Estate Partners to provide leasing and Unico Properties to provide management services.

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