Single-Tenant Office Trades Push Seattle Metro onto the Global Stage in 2010
Seattle Times reports: In its weekly Sunday Buzz column, the Seattle Times reiterated as local news findings in Real Capital Analytics’ (RCA) recent Global Capital Trends 2010 in Review publication. In that year-end synopsis of commercial real estate, RCA ranked the world’s largest office sales in 2010. Based on this report, the Times stated that the eighth largest deal in the Western Hemisphere (what RCA terms “the Americas”) and the 24th largest in the entire world during 2010 was no other than Bellevue, WA’s Bravern Towers One & Two.
The two towers, along with the underground parking garage they share as a part of the Bravern mixed-use development project, sold for $410 million. The Times rightfully indicated that, “They fetched top dollar because both towers are leased long term to Microsoft.” The Bravern sale joined Cole Real Estate Investors’ $310 million trade for City Center Plaza, also located in Bellevue, on the Americas’ top deal list of 2010.
Including these two oversized transactions, Seattle ranked as the 26th-most active market in the world during 2010.
View the full article on Seattle Times: Single-Tenant Office Trades Push Seattle Metro onto the Global Stage in 2010
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Posted by: Nina Turner