Trending...
- Spokane: Police Arrest Registered Sex Offender for Child Sexual Abuse Material
- PropAccount.com Launches Marketing Hub Within PropGenie, Giving Prop Firm Operators an Automated Marketing Team
- Spokane: Convicted Felon Arrested in Vancouver After Eluding SPD Officers
SEATTLE, June 10, 2021 /PRNewswire/ -- Hines, the international real estate firm, along with Benenson Capital Partners and USAA Real Estate, today announced Main Street Place, a 6.75-acre, mixed-use development in downtown Bellevue, Washington.
The development will consist of approximately 1.2 million square feet of new high-rise office product on the north side of the site, enjoying expansive, unobstructed southern views, as well as approximately 400 units of low-rise apartments on the south portion. The ground plane will feature a dynamic pedestrian experience with approximately 90,000 square feet of retail and amenity spaces, along with public open space and pedestrian corridors throughout the site.
Main Street Place will be an exciting addition to Bellevue, one of the most active submarkets in the Seattle area. It will sit less than one block away from a future light rail station, scheduled to open in 2023, which will connect this site to downtown Seattle, Seattle-Tacoma International Airport and Microsoft's headquarters in Redmond.
"The project's location, flexibility and nearly a full super block in land area create the opportunity to deliver a new portal into downtown Bellevue," said Ty Bennion, senior managing director at Hines. "This along with exceptional placemaking and ground-plane design will set Main Street Place apart from anything that currently exists in Bellevue. We are thrilled to be partnering with USAA Real Estate and Benenson Capital Partners on what we believe is one of the most exciting opportunities for community creation in our market."
The project is being developed on a long-term ground lease with Benenson Capital Partners, a 115-year-old, family-owned company based in New York City. The Benenson family has owned the site for decades, originally acquiring the Albertson's grocery store that initially inhabited the project and subsequently developing the retail center that currently exists.
"We are excited to bring the shared vision of Hines and the Benenson Capital to Main Street Place. We believe this development, with its proximity to the light rail system, stirring design and diversity of elements will create a wonderful vitality in downtown Bellevue," said Richard Kessler, chief operating officer of Benenson Capital Partners.
More on Washingtoner
"Likewise, we are enthusiastic about launching this partnership with Hines and Benenson Capital Company to build this exciting mixed-use district in Bellevue," stated Carrington Brown, managing director of development for USAA Real Estate. "Main Street Place reinforces USAA Real Estate's build-to-core strategy of investing in Class A, mixed-use projects in high-demand areas."
Main Street Place's planning and design reflect the values and promise of Bellevue. Amenities are abundant, including activated collaboration spaces and user-friendly outdoor common areas. Dramatic views can be found while exploring the public spaces, reinforcing an intimacy of experience between the occupants and place. Green living and the latest in sustainable design solutions are integral to the framework of the project.
"Our intention for Main Street Place is to create a vibrant, active and engaging mixed-use neighborhood that emphasizes quality of life," said Doug Hocking, design principal at KPF. "The project's friendly internal courts prioritize pedestrian comfort with social mixing areas that are energized with inspirational public art and framed views to Mount Rainier. We're excited to create a new town center in Bellevue and support the area's growth with vibrant and exciting mixed-use architecture."
The design team working on the project include lead designer Kohn Pedersen Fox as well as GGLO, A+I, Design Workshop and MKA. Additionally, a team led by Steve Kohn of Cushman & Wakefield served as developer consultant for Benenson Capital.
About Hines
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 240 cities in 27 countries. Hines oversees a portfolio of assets under management valued at approximately $160.9 billion¹, including $81.7 billion in assets under management for which Hines serves as investment manager, and $79.2 billion representing more than 172.9 million square feet of assets for which Hines provides third-party property-level services. Historically, Hines has developed, redeveloped or acquired approximately 1,450 properties, totaling over 485 million square feet. The firm has more than 180 developments currently underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.
More on Washingtoner
¹ Includes both the global Hines organization as well as RIA AUM as of December 31, 2020.
About Benenson Capital Partners
The Benenson group of companies dates back to 1905 and is still controlled by the Benenson family. Benenson Capital Partners is a leader among privately held operating companies in real estate investment, development and asset management. BCP manages 125 properties, including retail, office, industrial, multifamily, hospitality and land throughout the United States and Canada on behalf of the Benenson group of companies. The company focuses on core, value add and opportunistic investments across all major property sectors, as well as its historic leadership in the ownership of single-tenant triple-net leased properties occupied by major corporate tenants. Visit www.benensoncapital.com for more information.
About USAA Real Estate
With more than $26 billion of assets under management and 11 global offices, USAA Real Estate is an industry leader in acquiring, developing, financing and managing the highest quality real estate assets in North America and Europe. The mission of USAA Real Estate is to serve the financial interests of its investor clients by strengthening the profitability and diversity of their investment portfolios, which includes multifamily, industrial, office and hotel properties as well as e-commerce logistics and distribution centers, media production facilities and data centers. Aligned with a series of strategic partnerships cultivated over decades of co-investment, USAA Real Estate engages with preeminent sector leaders demonstrating proven domain expertise in a shared drive to achieve superior, risk-adjusted returns. For more information, visit usrealco.com.
Media Contacts:
Great Ink Communications, (212) 741-2977
Sara Williams [email protected]
SOURCE Benenson Capital Partners
The development will consist of approximately 1.2 million square feet of new high-rise office product on the north side of the site, enjoying expansive, unobstructed southern views, as well as approximately 400 units of low-rise apartments on the south portion. The ground plane will feature a dynamic pedestrian experience with approximately 90,000 square feet of retail and amenity spaces, along with public open space and pedestrian corridors throughout the site.
Main Street Place will be an exciting addition to Bellevue, one of the most active submarkets in the Seattle area. It will sit less than one block away from a future light rail station, scheduled to open in 2023, which will connect this site to downtown Seattle, Seattle-Tacoma International Airport and Microsoft's headquarters in Redmond.
"The project's location, flexibility and nearly a full super block in land area create the opportunity to deliver a new portal into downtown Bellevue," said Ty Bennion, senior managing director at Hines. "This along with exceptional placemaking and ground-plane design will set Main Street Place apart from anything that currently exists in Bellevue. We are thrilled to be partnering with USAA Real Estate and Benenson Capital Partners on what we believe is one of the most exciting opportunities for community creation in our market."
The project is being developed on a long-term ground lease with Benenson Capital Partners, a 115-year-old, family-owned company based in New York City. The Benenson family has owned the site for decades, originally acquiring the Albertson's grocery store that initially inhabited the project and subsequently developing the retail center that currently exists.
"We are excited to bring the shared vision of Hines and the Benenson Capital to Main Street Place. We believe this development, with its proximity to the light rail system, stirring design and diversity of elements will create a wonderful vitality in downtown Bellevue," said Richard Kessler, chief operating officer of Benenson Capital Partners.
More on Washingtoner
- Kirk Shaw Veteran Producer Tells Intelligence Daily: "The Next Decade Will Belong to the Creator"
- P-Wave Classics to publish Thomas Holcroft's The Adventures of Hugh Trevor in three volumes, beginning 19 January
- Ad Leverage Sponsors ServiceTitan Pantheon 2026, Supporting Education and Growth in the Home Services Industry
- DBF Viewer 2000 v9.32 Adds New Control for Data Export
- Badanamu Partners With Moonbug Entertainment In Landmark Distribution Deal
"Likewise, we are enthusiastic about launching this partnership with Hines and Benenson Capital Company to build this exciting mixed-use district in Bellevue," stated Carrington Brown, managing director of development for USAA Real Estate. "Main Street Place reinforces USAA Real Estate's build-to-core strategy of investing in Class A, mixed-use projects in high-demand areas."
Main Street Place's planning and design reflect the values and promise of Bellevue. Amenities are abundant, including activated collaboration spaces and user-friendly outdoor common areas. Dramatic views can be found while exploring the public spaces, reinforcing an intimacy of experience between the occupants and place. Green living and the latest in sustainable design solutions are integral to the framework of the project.
"Our intention for Main Street Place is to create a vibrant, active and engaging mixed-use neighborhood that emphasizes quality of life," said Doug Hocking, design principal at KPF. "The project's friendly internal courts prioritize pedestrian comfort with social mixing areas that are energized with inspirational public art and framed views to Mount Rainier. We're excited to create a new town center in Bellevue and support the area's growth with vibrant and exciting mixed-use architecture."
The design team working on the project include lead designer Kohn Pedersen Fox as well as GGLO, A+I, Design Workshop and MKA. Additionally, a team led by Steve Kohn of Cushman & Wakefield served as developer consultant for Benenson Capital.
About Hines
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 240 cities in 27 countries. Hines oversees a portfolio of assets under management valued at approximately $160.9 billion¹, including $81.7 billion in assets under management for which Hines serves as investment manager, and $79.2 billion representing more than 172.9 million square feet of assets for which Hines provides third-party property-level services. Historically, Hines has developed, redeveloped or acquired approximately 1,450 properties, totaling over 485 million square feet. The firm has more than 180 developments currently underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.
More on Washingtoner
- Nutriband (N A S D A Q: NTRB): Fighting Back Against the Fentanyl Crisis With a New Approach to Safer Transdermal Medicines
- Top 10 AI Trading Agents Beat Market at 91% Return for Hedge Funds (PANW, AAPL, IREN, JOBY, LUNR)
- Oral statement on the situation of Chairman Lee Man-hee in pretrial detention in the Republic of Korea
- A Sky Lites Drone Show welcomes new students University of Oregon
- CinderLabs AIRA Governs NVIDIA's Open Agent Safety Platform, Turning Enforcement Into Evidence
¹ Includes both the global Hines organization as well as RIA AUM as of December 31, 2020.
About Benenson Capital Partners
The Benenson group of companies dates back to 1905 and is still controlled by the Benenson family. Benenson Capital Partners is a leader among privately held operating companies in real estate investment, development and asset management. BCP manages 125 properties, including retail, office, industrial, multifamily, hospitality and land throughout the United States and Canada on behalf of the Benenson group of companies. The company focuses on core, value add and opportunistic investments across all major property sectors, as well as its historic leadership in the ownership of single-tenant triple-net leased properties occupied by major corporate tenants. Visit www.benensoncapital.com for more information.
About USAA Real Estate
With more than $26 billion of assets under management and 11 global offices, USAA Real Estate is an industry leader in acquiring, developing, financing and managing the highest quality real estate assets in North America and Europe. The mission of USAA Real Estate is to serve the financial interests of its investor clients by strengthening the profitability and diversity of their investment portfolios, which includes multifamily, industrial, office and hotel properties as well as e-commerce logistics and distribution centers, media production facilities and data centers. Aligned with a series of strategic partnerships cultivated over decades of co-investment, USAA Real Estate engages with preeminent sector leaders demonstrating proven domain expertise in a shared drive to achieve superior, risk-adjusted returns. For more information, visit usrealco.com.
Media Contacts:
Great Ink Communications, (212) 741-2977
Sara Williams [email protected]
SOURCE Benenson Capital Partners
0 Comments
Latest on Washingtoner
- Tacoma Arts Month Celebrates 25 Years This October
- ASN Software Introduces New California CARS Act Dealer Updates
- USA Air Management Marks 30 Years of Air Duct Cleaning in NJ Urges Homeowners to Schedule Dryer Vent Cleaning Before Heating Season
- Dr. Jay Johannigman Returns to Cincinnati Following 46 Years of Military Service
- Spokane: Flags Will Be Lowered for Former Legislator Mike Cooper
- Allstream Energy Partners, SEO Experts in Oil and Gas, Awarded Gas Processing OEM Agreement
- Growth Story Expands: $54.6M Contract, $30M Revenue Run Rate, 800+ Customers, 50+ Patents & New AI Cybersecurity Products for Cycurion, Inc $CYCU
- Sky Quarry Restarts Nevada's Only Crude Oil Refinery — A Major New Chapter Begins in This Highly Lucrative sector for N A S D A Q: SKYQ
- Nutriband Inc. (N A S D A Q: NTRB) Breaks Into Uncharted Territory: 52-Week High Eclipsed as Shares Surge 22% —AVERSA™ Puts Investors on High Alert
- Spokane: City Creates Reduced Utility Rates for Micro-Sized Living Units
- Spokane: Daughters of the American Revolution Dedicate "Never Forget Garden" in Riverfront Park to Honor Veterans
- Spokane: Police Arrest Registered Sex Offender for Child Sexual Abuse Material
- JaapDaily passes 22 million chants, adds big-screen Recite Along view for Navratri
- valueGLASS Calls for Independent Choice as Safelite Absorbs Kitsap Competitor
- Jacqui Condon Selected to Workers' Compensation Panels for Three Professional Athlete Associations
- Tacoma: Community Event Funding Announced for 2027
- New Metallized PE Film from Pregis Brings Recyclability to High-Barrier Food Packaging at Pack Expo International in Chicago
- Transformational $104 Million Musculoskeletal Healthcare Opportunity as Expansion Strategy Accelerates for Cardiff Lexington Corp (Stock Symbol: CDIX)
- PropAccount.com Launches Marketing Hub Within PropGenie, Giving Prop Firm Operators an Automated Marketing Team
- Save 15 Percent Off Florida Keys Accommodations with KeysCaribbean's Advance Purchase Rate Discount