The Roxborough Group has disposed of a key building at its Kirkland 405 Corporate Center campus, selling Building A-1 to King County, Washington, for $32.6 million. The transaction involves a fully leased facility in Kirkland’s Totem Lake neighborhood and marks a significant move for both the seller and the public-sector buyer.
Roxborough, a San Francisco-based real estate private equity firm, originally acquired two office buildings at the K405 Corporate Center in February 2019. At that time, the pair of assets totaled 132,400 square feet and traded for $35.7 million. The recent disposition carves out one of those buildings while leaving Roxborough with continued ownership of the remaining structure on the campus.
Building A-1, now sold to King County, comprises 66,483 square feet. It was previously a traditional corporate office property but is currently subject to a long-term, full-building lease with Connections Health Solutions. The tenant is a King County mental health crisis center that provides behavioral health services, anchoring the building with a single-tenant, mission-driven use.
In 2024, Connections Health Solutions secured $20 million in county and state grants to convert Building A-1 from a conventional office environment into a health care-focused facility. Those funds supported the physical transformation required to serve as a mental health crisis center, aligning the real estate with a specialized medical and behavioral health use. The capital improvements effectively repositioned the asset away from standard office utilization.
Following the disposition of Building A-1, Roxborough continues to own Building A-2 at Kirkland 405 Corporate Center. That building totals 65,917 square feet and remains 92% occupied. Its tenant roster is composed of technology and professional services users, maintaining a more traditional office profile in contrast to the newly reconfigured health care facility next door.
The transaction highlights the evolving use profile within a single corporate campus, where one building has been converted to specialized health care functions under public and grant support, while the other continues to serve private-sector office tenants. With the sale to King County complete, Roxborough has partially exited its investment while retaining a sizable foothold in the Totem Lake submarket through its continued ownership of Building A-2.
