Washington Mutual acquired the two-building complex when Boeing Co.'s pension fund gave it back to the bank. Elizabeth Thomas, a senior vice president at CB Richard Ellis/Whittier Partners, who will represent Washington Mutual in the sale along with principal Phil Giunta, tells GlobeSt.com that Washington Mutual took title of the property last month.
Thomas notes that at this point there is no asking price for the two buildings. She says that the plan is to take the deal to qualified investors and call for offers later in the month. "There was a lot of interest in the property even before it officially came to market," she says and adds that the seller in is interested in a "quick conclusion."
The class A office project totals 231,215 sf and is currently about 35% leased. The property consists of the eight-story One Lincoln Plaza and the six-story Two Lincoln Plaza--both surrounding a courtyard. Thomas point out that there has been interest in a possible residential conversion of the property, as well as talk of turning the smaller building into a hotel.
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