Parklands North Creek

Our first office acquisition in the Puget Sound area of Seattle.

The Parklands North Creek complex, comprising 24 office buildings in total, was built over 10 years between 1999 and 2009 by Schnitzer, a well-established developer in the Pacific Northwest.  

"This transaction significantly increases Grosvenor Americas’ investment holdings in the Puget Sound region and furthers our strategy of investing in gateway markets with highly educated and well-trained work forces. There is growing demand for Class A commercial office space in this area, particularly from the technology sector."

Michael Beattie, Chief Investment Officer, Grosvenor Americas 

When we acquired 11 of the 24 buildings, eighty-six per cent of the assets were leased to a variety of tenants in the technology, healthcare, and professional industries. 

Parklands North Creek is a 20-minute drive from downtown Seattle with direct access to I-405 and is just minutes from both I-5 and SR-522.  Amenities include data infrastructure with access to multiple data providers, a 1.2-mile jogging track and 18 parcourse fitness stations, a childcare center, a deli, and service to or near the campus by four bus routes. Three hotels are adjacent to the campus, and numerous restaurants are within walking distance.

Schnitzer West continues to provide onsite property management for the 11 Grosvenor owned properties within the complex.

Parklands North Creek

Contact

Glenn Barrick
+1 (604) 640 3521

Key details

Ownership
Joint Venture

Type of project
Investment

Floor space

Total area
66,190 sq m

 

Sector

Office

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