SEATTLE-Local office brokers rumored that TIAA-CREF, a pension fund investor based in New York, is under contract to buy the office portion of the Westlake Center property for nearly $124 million or about $350 per square foot. The office portion measuring 355,107 square feet is owned by Chicago-based General Growth Properties Inc.
The 25-story office tower, constructed in 1988, is 93% leased to tenants including Coffman Engineers Inc. and Bullivant Houser Bailey PC. The property is located at 1601 5th Avenue. For the full story, go to Puget Sound Business Journal .
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