Strategic Brokerage Execution in Bellevue’s Bel-Red Redevelopment Corridor

Location: Bel-Red District, Bellevue, WA
Asset Type: Office | Redevelopment Opportunity
Zoning: Bel-Red Commercial/Residential (BR-CR)
Transaction Type: Acquisition + Disposition (Brokered)
Service Lines: Real Estate Brokerage | Advisory | Strategic Positioning

Overview

AGM facilitated the acquisition and subsequent sale of the 136th Office Park, a well-located asset in the heart of the Bel-Red corridor—Bellevue’s next-generation live/work district. The transaction highlights AGM’s ability to identify transitional zoning opportunities, structure competitive terms, and strategically position assets within high-growth urban submarkets.

The site’s BR-CR zoning allows for dynamic mixed-use development—including housing, retail, office, and services—making it one of the more flexible and future-ready land use designations in the region. This flexibility positioned the property to attract buyers seeking both near-term cash flow and long-term redevelopment upside.

Strategic Context

The Bel-Red corridor is undergoing a major transformation, supported by the East Link light rail extension and ongoing nodal development. Formerly dominated by industrial and aging commercial buildings, the area is being reimagined as a pedestrian-friendly, transit-supported urban center.

With direct access to major arterials and new transit infrastructure, Bel-Red is becoming one of the most investable redevelopment zones in suburban Bellevue. The City of Bellevue is actively encouraging this evolution—supporting residential, employment, and mixed-use growth.

Strategy

• Identified the property’s potential within an evolving zoning framework

• Positioned the site as a hybrid asset: stable office income with redevelopment flexibility

• Crafted a marketing strategy around BR-CR zoning and light rail proximity

• Attracted buyers focused on urban infill redevelopment and density potential

• Structured the sale to capture top-dollar without overpromising speculative value

Results

• Successfully brokered the asset to a buyer with a long-term redevelopment thesis

• Delivered a strong return for ownership within a compressed sales timeline

• Validated AGM’s ability to execute brokerage services that align with broader investment theses

• Strengthened AGM’s position as a trusted player in the Bel-Red growth corridor

Strategic Value

This case highlights AGM’s local expertise in identifying zoning-driven opportunities and structuring transactions that align with the evolving character of high-growth corridors. It also reinforces the firm's capability to bridge brokerage execution with long-range advisory insight—unlocking value beyond just the sale.