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All the latest news articles and market trends of the Seattle Real Estate Market. If it is happening in Seattle it is happening on the Stroupe Group.

Bosa Development Acquires Third Property in Bellevue

An LLC linked to Bosa Development, helmed by Nat Bosa, has acquired a third property in Bellevue, according to the Daily Journal of Commerce. Bosa Development is a British Columbia-based company behind Seattle’s Insignia building as well as One88 in Bellevue. 

The newly acquired site, at 104th Avenue NE in Bellevue, WA.
Source: Google Maps

The subject property, Park Row shopping center, is located at 139 104thAvenue NE in Bellevue. The sale was originally recorded with King County on February 6th. According to the article, the one-acre property sold for $36 million, on $767 per square foot of land. The current shopping center has three single story buildings on it, with tenants such as Yogurtland and the UPS Store. 

Per the article, no plans have been filed yet with the city. However, the zoning allows for residential construction up to 300 feet, depending on how the buildings are spaced apart and other considerations. Bosa Development owns two other sides in the vicinity. One88, already under construction, will be completed next year and is roughly 90% presold. In addition, Bosa acquired a site of Sushi Maru, at 105thAvenue NE for $11 million last year. 

In Downtown Seattle, Bosa Development is the company behind Insignia. In addition, the company is getting ready to construct at 601 Fourth Avenue in Seattle – a 58 story tower. We will make sure to keep you updated as more details become available.

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