Updated May 12, 2025
KKR Leases 31837 Square Feet Office Space To Institute For Protein Design In Seattle
330 Yale Avenue North
Building Size
31,837 SF
Asset Type
Office
Closing
Apr 9, 2025
About this deal
AI
The property asset involved in this transaction is an office space located at 330 Yale Avenue North, Seattle, WA. The total square footage of the asset is 31,837, and it is part of a KKR-owned property which is currently undergoing enhancements to support the life science sector in the region.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Lease Date: 04/09/2025
- Landlord: KKR
- Tenant: Institute for Protein Design
- Market: Seattle, WA
- Brokerage Firm: CBRE
- Brokers: Katie Smith, Marcus Yamamot & Paul Carr
- New Construction in Life Science since 2019: Nearly 2 million square feet
CBRE has successfully facilitated the lease of the office space to UW Medicine’s Institute for Protein Design at the Cascadian building. This marks the city's first major life science lease of the year, showcasing the active engagement in Seattle's growing life science sector.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93