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1420 156th Ave NE

Crossroads, Bellevue, WA
Floors
2
Parking Ratio
3:1000
Zoning
CB
Building Class
B

Features

Onsite Parking

Current Availabilities

Nov 14
ago
Office Retail
  • Max Size: 2,500 sqft
  • Min Size: 200 sqft

Crossroads Crossing

Colliers is pleased to market for sale, this four tax parcel mixed use property totaling approximately 22,865 SF in four (4) buildings on 1.56 acres. Crossroads Crossing’s is centrally located in prime community business zoned land just north of Crossroads Mall on 156th Avenue NE in Bellevue. This opportunity offers a mix of options for both the “investor” and the “user” as the project currently has short term, underperforming market leases as well as 4,060 SF of office vacancy. This is an excellent opportunity for someone to increase the performance of the project in the short term, while also providing for development strategy in the future. The neighborhood is ever evolving and currently is seeing a very rapid growth in the multifamily sector with close to 1,500 rental units coming online in the next 3-4 years.

Features - Short Term Leases - Under Market Rents - No Debt to be Assumed - Strong Eastside Economy - Excellent Signalized Corner Location - Mall Periphery Location - Owner Managed and Operated - Located in the Path of Transition - Mixed Use Asset Appeals to Multiple Tenants

Listing agent for this listing
Pat Mutzel, Colliers International

The Neighborhood: Crossroads

Most listings are in the $30's per square foot per year. The Crossroads region is experiencing a a rise in rates. In the last 3 months, the median rate increased $3 per sqft per year. That's a 9% rise in rent.

Compared to the rest of the Seattle Metropolitan Area market, the Crossroads region has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.

Median Rate Median Size
Crossroads $32
/sqft/yr
2,790
sqft
Median Rate Median Size
Seattle Metropolitan Area $32
/sqft/yr
4,540
sqft

Median Rate over Time in Crossroads