SEATTLE-Teachers Insurance and Annuity Association of America has paid $119.4 million for the Westlake Center office tower in downtown Seattle. The company, part of TIAA-CREF, has purchased the 21-story tower that sits over a four-story retail mall.
The property was sold by an entity managed by Chicago-based General Growth Properties. The company tried to market both the office and the retail property in 2008, but did not succeed. Now, General has retained the shopping mall and sold the 353,000-square-foot office tower. For the full story, go to Seattle Times .
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