Clarion Partners has purchased a 70% interest in 400 Dexter, a 290,111-square-foot trophy life science asset in Seattle. At $1,255 per square foot, the partial sale represents a gross valuation of $364 million for the property. It is the highest price per square foot for a life science property in Seattle’s history.

400 Dexter is fully leased to Bristol Myers Squibb, the property’s anchor tenant, as well as Alexandria and The Collective, a members-only social club. Newmark co-head of U.S. capital markets Kevin Shannon, executive managing directors Ken White and Rob Hannan, vice chairman Nick Kucha, senior managing director Michael Moll and director Rachel Jones, in conjunction with local leasing team, executive managing directors Jesse Ottele and senior managing director Cavan O’Keefe represented the seller, an affiliate of Alexandria Real Estate Equities, in the transaction.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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