Opus Bank Bellevue

Property Overview

200 108th Ave NE is an 11,736 SF single-tenant retail property located in Bellevue, Washington, built in 1978. The property was bank-owned at the time of sale.

Challenge

Our team was engaged to handle the disposition of a bank-owned, single-tenant retail property in Bellevue. Because the property was a special asset, the transaction required a structure that addressed the seller's need to vacate on a timeline that did not align with a standard closing. Finding a buyer willing to accommodate that constraint while still transacting at a strong price was the central challenge.

Action

Erik and Mike represented both the buyer and the seller in this transaction. To bridge the gap between the seller's occupancy needs and the buyer's acquisition timeline, our team negotiated a short-term leaseback arrangement that allowed the sale to close while giving the seller continued use of the property for a defined period. This structure made the deal workable for both parties and kept the transaction on track.

Result

• Sale price of $7,100,000, or $605 per SF
• Successfully structured a short-term leaseback to satisfy the seller's occupancy requirements
• Represented both buyer and seller, coordinating a clean close for all parties involved