Possible Addition of New Office Space, Street-Level Activations and Multi-Family Housing Being Considered for Existing 297K+ SF Commercial Office Campus
Bellevue, WA, June 2, 2021 – Seattle-based commercial real estate firm Urban Renaissance Group LLC (www.urbanrengroup.com) (URG), and development arm Touchstone (www.touchstonenw.com), today announced they are exploring a possible expansion and new uses at their 14-acre Cascade Yard commercial office campus in Bellevue, Wash.
Located at 3380 146th Place SE, URG/Touchstone are reviewing opportunities for additional/updated office facilities and more robust amenities, including covered parking, retail opportunities, and a large and welcoming open space adjacent to the site’s newly-developed stand-alone amenity building known as The Yard.
“We are looking into development potential at Cascade Yard through the City of Bellevue’s master development plan process,” said URG Founder and Chief Executive Officer, Patrick Callahan. “The adoption of the transit-oriented district (TOD) code within Cascade Yard’s footprint presents interesting opportunities for campus expansion to serve existing and new tenants.”
Previously known as the Lincoln Executive Center, URG and PCCP, LLC (PCCP) purchased the 14-acre campus in December 2019 and renamed it Cascade Yard in tribute to the site’s history as a lumber yard in the mid-twentieth century.
Centrally-located near I-90, just a block from the Eastgate Park & Ride Transit Center and future East Link Light Rail, steps from the popular “Mountains to Sound Greenway” and in close proximity to Bellevue College, a portion of the site’s redevelopment potential is also being dedicated to residential multi-family housing and creating a sense of community, place and connectivity through the TOD code.
Additionally, URG/Touchstone and PCCP are also working closely with the City to create a phasing plan that minimizes disruption to the existing tenants at Cascade Yard while bringing new facilities to the market and to existing tenants in the most expedited way possible.
As a five-building, Class-A office complex, the updated and modernized Cascade Yard office development currently features recently-remodeled lobbies, common areas and open space. The Yard also includes new exercise facilities with showers and lockers; training and conference facilities; a deli, coffee and espresso bar operated by Walla Walla Farms, and indoor and heated-outdoor seating.
Plentiful surface and covered parking are also available on-site.
For current office leasing inquiries, interested parties can contact Paul Sweeney (sweeney@broderickgroup.com), Jason Furr (furr@broderickgroup.com) or Tony Ulacia (ulacia@broderickgroup.com) at the Broderick Group.
More information can also be found at the project website at www.cascadeyard.com.
About Urban Renaissance Group
Urban Renaissance Group LLC is a Seattle-based full-service commercial real estate company, engaged in acquisitions, development, asset management, leasing, property management and ownership in Seattle, Bellevue, Denver and Portland. Founded in 2006, the strategic premise of Urban Renaissance Group (URG) is that the form of the American City is changing. URG acts as a catalyst that understands and ignites that change, thereby building community, generating appropriate returns for its investors and opportunities for its partners and employees. Learn more at www.urbanrengroup.com.
About Touchstone. Touchstone is a subsidiary of Urban Renaissance Group LLC, a Seattle-based full-service commercial real estate company, engaged in acquisitions, development, asset management, leasing, property management and ownership in Seattle, Bellevue, Denver and Portland. Urban Renaissance Group’s (URG) mission is to create places that inspire and connect. With a dedication to placemaking and fostering community, URG helps spark change in transforming neighborhoods by reinventing land and buildings to better serve people and the community at large. Learn more at www.urbanrengroup.com and www.touchstonenw.com.
PCCP, LLC is a real estate finance and investment management firm focused on commercial real estate debt and equity investments. PCCP has $12.7 billion in assets under management on behalf of institutional investors. With offices in New York, San Francisco, Atlanta, and Los Angeles, PCCP has a 22-year track record of providing real estate owners and investors with a broad range of funding options to meet capital requirements. PCCP underwrites the entire capital stack to exploit inefficiencies in the market and provide investors with attractive risk-adjusted returns. Since its inception in 1998, PCCP has managed, raised or invested over $25.2 billion of capital through a series of investment vehicles including private equity funds, separate accounts and joint ventures. PCCP continues to seek investment opportunities with experienced operators seeking fast and reliable capital. Learn more about PCCP at www.pccpllc.com.
