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December 15, 2016

112th @ Twelfth has sold for $203M to Gemini Rosemont of New Mexico

By JOURNAL STAFF

Photo by The Broderick Group [enlarge]

King County records show One Twelfth @ Twelfth, a three-building office complex at 1110-1120 112th Ave. N.E. in Bellevue, has sold for $202.67 million.

The seller was 112th Bellevue Associates LLC, which acquired the property in 2004 for $134 million.

The buyer was 112th Bellevue Operating LLC, associated with Gemini Rosemont of Santa Fe, New Mexico, which owns or manages over 20 million square feet in the U.S.

The new owner already lists 112th @ Twelfth on its website, and says The Broderick Group's Grant Yerke and Jeff Watson represent a small amount of open space.

The four-acre site is at the southeast corner of 112th Avenue Northeast and Northeast 12th Street. The property was developed by Hines in 2000, with three six-story buildings that have a total of 480,000 rentable square feet.

Update: After deadline, Broderick confirmed that it partnered with Eastdil Secured on the sale.




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