Wright Runstad, Shorenstein Properties and J.P. Morgan Sell Spring District Block 16 Office Building to Brookfield

Stoel Rives congratulates clients Wright Runstad & Company, Shorenstein Properties and J.P. Morgan Asset Management on the sale of the recently completed Block 16 office building in the Spring District in Bellevue, Wash., to a Brookfield Asset Management Real Estate Fund. We represented Wright Runstad and its joint venture partners on the sale. The $365 million sale price reflects the growing institutional interest in the Puget Sound region and in Bellevue in particular. The 343,528-square-foot Block 16 building is 100% leased to Facebook.

The Stoel Rives deal team was led by Seattle real estate partner Mike Kuntz and included partner Nathan Luce.