Opportunistic Development on the Edge of Microsoft Campus
LakeRidge Square was an industrial park located in an underserved area of its market. Local government was strongly anti-growth, with a long and unpredictable entitlement process and a pending building moratorium.
- LocationRedmond, WA
- Size610,000 SF
- Investment strategyOpportunistic Development
- Acquisition dateDecember 2000
Our strategy was to redevelop the park into a large-scale, Class A suburban office campus, designed to suit the occupancy needs of Fortune 500 companies. Metzler secured the necessary entitlements and completed the development prior to the city’s moratorium taking effect.
We leased the entire project to Microsoft because of the development quality and proximity to its main campus. LakeRidge was sold 12 months after completion at a then-record price for Pacific Northwest suburban office markets.