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Bellevue Galleria sells for $88 million
Bellevue Galleria, a 204,000-square-foot shopping and office complex, just west of the downtown transit center, sold on Friday for $87.6 million, or $429 per square foot, according to county documents. The buyer is MPH-1 Bellevue LLC, which shares an address with DC real estate company, Madison Marquette.
Bellevue Galleria, built in 1999, is located at 550 106th Ave N.E.
In 2007, RP Realty Partners of Los Angeles bought the same property for $53.4 million, converting the center's theater and retail to office space two years later.
The complex is currently occupied by retail tenants L.A. Fitness, Gene Juarez and Tap House Grill, among others. RP Realty also has property in Lacey, WA, a shopping center called Lacey Market Square.