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Nicola Crosby Real Estate Pays $26.7M for OfferUp HQ

Onward Investors Sells 71,000-SF Former AAA Bldg in Bellevue
January 31, 2018
Nicola Crosby Real Estate Investments, a Vancouver, BC-based investment company, acquired the 71,329-square-foot Mercer Pointe office building in Bellevue, WA from Onward Investors LLC for $26.7 million, or approximately $374 per square foot.

Onward Investors acquired the property, originally built in 1983, in 2016 for $10.25 million and began construction to make improvements to fit the new headquarters for OfferUp, a rapidly growing Seattle-based online marketplace.

The former AAA building features covered parking, an on-site fitness center, cafeteria and breakroom. Located at 1745 114th Ave. S.E., Mercer Pointe is in close proximity to the Bellefield Office Park, consisting of more than 507,000 square feet across 16 buildings near downtown Bellevue and Interstates 405 and 90.

Tom Pehl and Louis Senini of represented the seller.

Please refer to CoStar COMPS #4120125 for more information on the transaction.
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