Grosvenor Americas has acquired a portfolio of 11 Class A office buildings in Seattle, WA for $167.5 million.

The properties were acquired from owner/developer Schnitzer West, LLC. The 11 institutional-grade buildings are part of Schnitzer North Creek’s 24 office buildings and are comprised of 712,460 square feet of office space. Schnitzer West will continue to provide on-site property management for the buildings, which are located in the suburb of Bothell.

“We believe the area will experience higher growth than many parts of the U.S. over the next several years, and this acquisition provides the opportunity and exposure,” says Michael Beattie, chief investment officer of Grosvenor Americas.

The Bothell campus is a 20-minute commute from Seattle. This is Grosvenor Americas’ first office property acquisition in the Puget Sound region. The company owns nine multi-family communities in the area.

“Seattle’s Eastside submarket continues to absorb significant amounts of office space, resulting in the lowest vacancy rate of the five regional market areas,” says James Delmotte, senior vice president of investment at Grosvenor Americas. “Controlling a critical mass of office space in Bothell will allow us to actively manage our tenants’ changing space needs.”