SeaTac Office Center Sells to PCCP and URG

The 548,704-square-foot SeaTac Office Center is located across from the Sea-Tac Airport.

SEATTLE—Local commercial real estate firm Urban Renaissance Group LLC and real estate investment firm Iron Point Partners LLC recently sold the 548,704-square-foot SeaTac Office Center to a partnership between San Francisco-based PCCP LLC and URG. The price was undisclosed.

As part of the sale, URG will recapitalize and invest with PCCP at SeaTac Office Center with plans to expand tenant amenities and improve common areas. These efforts seek to differentiate SeaTac Office Center as one of the top office assets in the Southend. URG and IPP purchased the campus in October 2015 at 62% occupancy and made significant investments in the asset including adding new amenities, upgraded cosmetic materials, updating and adding conference rooms, expanding the fitness center, upgrading building systems, and making exterior improvements.