KKR Inks Life Science Lease in Seattle
This is the market's first such major deal of 2025.
CBRE has facilitated a 31,837 square foot lease agreement at Cascadian at 330 Yale, a Class A life science building in Seattle. The tenant is UW Medicine’s Institute for Protein Design. The IPD deal marks the first major life science lease agreement in Seattle this year, according to CBRE, who represented the landlord.
The owner of the building, a subsidiary of KKR, purchased the office mid-rise in December 2024, according to CommercialEdge data. Since buying the building in the South Lake Union neighborhood, the firm kicked off amenity enhancements including a large conference room, rooftop space and three ready-to-use labs that will come online this year.
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The nine-story, 211,555-square-foot building at 330 Yale Ave. is LEED Platinum certified, was completed in 2021 and includes ground-floor retail space, as well as multiple lab suites. The property is 2.5 miles outside of downtown Seattle, next to Interstate 5 and under 1 mile from Lake Union Park and the coastline. There are also several restaurants and retail options nearby.
CBRE Senior Vice Presidents Paul Carr and Marcus Yamamoto, alongside Senior Associate Katie Smith, represented KKR in the leasing deal.
Seattle is one of the most active life science markets in the U.S. Between 2019 and October 2024, the area recorded nine life science building construction starts totaling nearly 2 million square feet. Major moves in the space over the past couple of years included names the likes of BioMed Realty, Alexandria Real Estate Equities and Trammell Crow.
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