BELLEVUE, WA-Seattle Boat and MIU France have both signed long-term lease to occupy industrial space in Bellevue’s Simone & Associates Building for a combined total of 29,900-sf. The deals bring the property to 100% occupancy.
Seattle Boat, a local boat dealership, has leased 19,900-sf of space, which it plans to use for a showroom and storage area. MIU France, a kitchen supplies distribution company, will use its freshly leased 10,000-sf of space as a distribution center. According to local brokers, the asking rate for industrial space in the Bellevue area can run between $0.60 and $0.70 per sf.
The Simone and Associates Building, which is located at 13203 NE 16th Street in Bellevue, is a 63,000-sf building that was built in 1969. The building is now fully occupied. Other tenants include East Side Staple and Nail, which signed a lease with Simone & Associates last year.
Mark Flippo and Troy Gessel of Pacific Real Estate Partners represented Simone & Associates; Scott Davis of CB Richard Ellis represented Seattle Boat; and Al Gucci of Executive Real Estate Inc. represented MIU France.