December 18, 2019
REDMOND — Blocks 2A and 2B, plus a land for a public park at Esterra Park, have sold for almost $14.3 million, according to King County records.
The seller was an LLC related to Capstone Partners and Lionstone Investments of Houston, which acquired the 28-acre former Group Health campus in 2013 for $32.5 million. Portions have been sold off since the master use permit was approved several years ago.
The buyer was Esterra Commons Venture LLC, which is associated with PGIM Real Estate, part of the Prudential Insurance group.
About 5.8 acres are still undeveloped at 15300 N.E. Turing St.
The deal was worth a nominal $55 per square foot for the land. However, about 2.67 acres of that will be for the public park, so about $102 per square foot is a better estimate.
Runberg Architecture Group has taken Block 2A/2B plans through design review. The project will have two eight-story buildings with about 620 units over shared underground parking. Exxel Pacific will be the general contractor. Brumbaugh & Associates. is the landscape architect.
The unnamed project will be north of the park.