Harsch Investment Properties acquired Plaza 520 Business Park, a 130,195-square-foot, multitenant business park in Bellevue, Wash.

The value of the transaction was $20 million.

The property is located on the corner of 130th Avenue N.E. and Northrup Way. The seller, Peter Jouflas, originally developed the 11-building, 11.8-acre project in 1978.

This acquisition marks the third major Puget Sound purchase Harsch has made this year.

At the time of closing there were 14 tenants, including Windermere East Real Estate, First American Title Insurance, Siemens, Rockwell Publishing, Safeway, and United Way. 

Pacific Real Estate Partners represented both parties in the transaction and will be retained by Harsch to handle the leasing for the project.

Portland, Ore.-based Harsch Investment Properties is a privately held real estate company that acquires and develops properties.

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