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Originally published June 5, 2012 at 2:39 PM | Page modified June 6, 2012 at 12:38 PM

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L.A. firm buying Fremont, Bellevue office buildings

Los Angeles-based Kilroy Realty, which owned nothing in the Seattle market two years ago, is on its way to becoming one of the region's bigger office landlords.

Seattle Times business reporter

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Los Angeles-based Kilroy Realty, which owned nothing in the Seattle market two years ago, is on its way to becoming one of the region's bigger office landlords.

The real-estate investment company announced this week it's buying four buildings in Fremont and downtown Bellevue.

The acquisitions would double Kilroy's Seattle-area holdings to 1.7 million square feet — more than the 76-story Columbia Center.

Kilroy paid Stockbridge Capital $39 million Friday for Lake View at Fremont, according to county records. It also said it paid Metzler North America $107 million for the neighboring, two-building Fremont Lake Union Center.

The three buildings, which together have 420,000 square feet of office space, stretch between the Fremont and Aurora bridges south of North 34th Street.

Kilroy also said it has a contract to buy downtown Bellevue's 24-story Skyline Tower, at 110th Avenue Northeast and Northeast Fourth Street, for $186 million.

Mike Shields, Kilroy's Seattle-area senior vice president, said the sale should close next month. It would be King County's second-largest real-estate transaction so far this year. Beacon Capital Partners of Boston is the current owner.

Kilroy sold its only property in the Seattle area in 2008, then re-entered the market in late 2010, buying Redmond's Overlake Office Center. Last year, it purchased Kirkland's Plaza at Yarrow Bay and downtown Bellevue's 23-story Key Center.

Kilroy's portfolio includes 15 million square feet of office and industrial buildings, mostly in California.

Eric Pryne: 206-464-2231 or epryne@seattletimes.com

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