SEATTLE—Troy Block, two newly constructed class-A office towers fully leased to a Fortune 50 technology tenant, has sold to a private high net-worth family office, according to Holliday Fenoglio Fowler LP. At $740 million, the transaction represents the largest single asset trade by volume in Seattle history.

Troy Block is located at 300 Boren Ave. North in the South Lake Union submarket, which is home to some of the fastest growing industries including technology, media, software, global health and biomedical research. Completed in 2016 and 2017, the two LEED Gold-certified towers offer the highest quality improvements and latest building technology with multiple tenant amenities.

HFF marketed the property on behalf of the seller, a partnership between USAA Real Estate and Touchstone. The HFF investment advisory team included executive managing directors Mark Gibson, Stephen Conley and Manny De Zarraga, senior managing directors Michael Leggett, Gerry Rohm and Coleman Benedict, and directors Kevin Freels and Logan Greer.

Instant Insights /

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