Kauri Investments acquires site in Warburton neighborhood for $6.75 million
Eye Clinic of Bellevue completes sale / leaseback of property for a few more years before relocating to larger facility
BELLEVUE, Wash. – July 25, 2024 – Cushman & Wakefield announced the firm has brokered the sale of a freestanding 5,519-square-foot medical office building on a uniquely large parcel located at 1300 116th Avenue in Bellevue, Washington that is planned for future hotel redevelopment. The buyer was Seattle based Kauri Investments, Ltd., which acquired the property from Eye Clinic of Bellevue, the existing owner/occupier, for $6.75 million. 
The Eye Clinic of Bellevue plans to continue to leaseback the entire property for a few more years around when Kauri Investments will start to develop the site into a new approximately 150-unit hotel project. At that time, the clinic will also move into a larger and more modern facility to operate its established ophthalmology practice.
Cushman & Wakefield’s Pat Mutzel, Senior Director of the firm’s Private Capital Group in Seattle brokered the off-market transaction.
“The Wilburton area will become ‘Bellevue’s next urban mixed-use community’,” said Pat Mutzel. “This was a great deal for both parties, it was great to work with Kauri again and it’s also pleasing knowing that this transaction paves the foundation for the future growth of the clinic.”
Since 1987, Kauri Investments, Ltd. has served as a Seattle-area leader in real estate development, consulting, and fee development services. Kauri also currently owns another six other hotel sites, three in the Seattle area and three in the Medford, Oregon area—one which is still being built, according to its web site.
Cushman & Wakefield’s Private Capital Group is the preeminent provider of commercial real estate advisory services to mid-cap, private owners, and investors.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.
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