Situated amid Downtown's retail shopping district, the brick-clad building with underground parking was completed in 1981 and renovated in 1997 and 2004. Occupancy is about 80%. Significant tenants include Community Health Plan of Washington, Northwestern Mutual Life and Sparling Inc.
Total available square footage is 54,483 sf, spread among 13 spaces, according to officespace.com. The largest contiguous availability in the building is 13,385 sf on the ninth floor. The gross asking rate range is $24 to $27 per sf per year.Sumisei US Core Office Fund is an investment vehicle organized by Hines and Sumitomo Life Realty (NY) Inc., to acquire a geographically diverse portfolio of core office buildings in the US. The fund also owns office buildings in San Francisco, New York, Houston, Washington, DC and Chicago.
"We believe the Seattle office market is poised for significant long-term growth, and this property is ideally positioned in the market to benefit from that growth," says Core Fund president Charles Hazen.
Secured Capital Corp. and Pacific Real Estate Partners represented Archon Group. Hines represented the Core Fund.
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