Office Tower Duo Sells in Seattle for $480M , Confirming Interest in Trophy Assets Still Strong
Bloomberg reports: Up until yesterday, Real Capital Analytics data had identified the sale of the Parsons Corp complex in Pasadena, CA, which Morgan Stanley Real Estate Investing and Lincoln Property Co purchased in June for $325 million, as the largest office transaction on the West Coast in 2011. That ceiling was shattered when JPMorgan Asset Management acquired two significant office towers in downtown Seattle for a combined $480 million.
Located at 1918 Eighth Avenue (668,000 square feet over 36 stories) and 818 Stewart Street (232,000 square feet over 14 stories, the sale of the two CBD buildings is a signal that investors are still willing to pay top-dollar for quality assets.
View the full article on Bloomberg: Office Tower Duo Sells in Seattle for $480M , Confirming Interest in Trophy Assets Still Strong
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Posted by: Nina Turner