SEATTLE, October 31, 2017 – Meriwether Partners announced the sale of Kendall Lake Building to a private investor for $13.05 million. The building was 100% leased at the time of sale.
Meriwether acquired Kendall Lake in December 2011 at a price of $5.05 million. The two-story office building is located east of Seattle in Snoqualmie, WA. When Meriwether purchased it, the building was 68% leased, and the remaining vacant space in shell condition. Shorly after closing, Meriwether leased the remainder of the building to King County. After executing the King County lease, Meriwether also backfilled several subsequent vacancies to return the project to 100% occupancy at the time of sale
“We successfully repositioned and re-leased the building with a stable tenant base, which allowed us to complete our business plan,” said Joel Aslanian, principal at Meriwether Partners.