SEATTLE—Skanska of Sweden has sold the development property Stone34 in Seattle, USA for about $70 million (SEK 475M). The buyer of the four-story office-retail property is a joint venture between investor-manager Unico Properties and investment firm Laird Norton Company. Both are based in Seattle.
Stone34 is Skanska's first Seattle development property and was completed in summer 2014. The ground floor provides about 21,000 square feet (2,000sm) of retail space, 8,500 square feet (800sm) of outdoor gathering space, parking stalls, biking stalls, four electric car charging stations and edible landscaping. Current retail tenants include flagship retail stores for Brooks and MiiR.
Skanska has two development projects under construction in the Seattle area, and also recently announced the ground lease for 2&U, a class A high-rise office tower in downtown Seattle.
Skanska USA is one of the leading development and construction companies in the country. Headquartered in New York, Skanska USA has more than 9,600 employees and its 2013 revenues were about $5.5 billion (SEK 43.5B). The parent Skanska Group currently has 57,000 employees in selected home markets in Europe and the US, and is headquartered in Stockholm.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
