Four Alaska Buildings Fetch $104M

ANCHORAGE-Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that Stan Johnson Co. has completed the $104-million sale of a four-building, 677,778-square-foot office complex in the heart of Anchorage, Alaska to a partnership comprised of institutional investors.
The complex is 100% leased to ConocoPhillips, who will continue to occupy the complex. David Clary and Daniel Herrold of Stan Johnson represented the owner, a privately-held investment and management company.

Anchorage's office market is tight, according to Clary. “The sale of this complex provides the new owners with a sound, long-term investment.”

The senior director adds that the property, known as the ConocoPhillips Complex, “is a landmark on the Anchorage skyline. It has a long-term lease in place with ConocoPhillips, which is a solid investment grade rated company.”

Clary tells GlobeSt.com that the seller, based in Texas, sold the buildings to "redeploy the equity elsewhere."

As for further details on the buyer, Clary could only tell GlobeSt.com that the buyer is based in Alaska.

The ConocoPhillips Building was built in 1983 at 700 G Street in downtown Anchorage, Alaska. It is the tallest building in state and sits in the center of the Anchorage skyline.  The building is part of a complex, composed of an atrium, connecting with a smaller office towers.  The sky-lit atrium is open to the public, and has a small food court, as well as a water fountain. The annual summer Wild Salmon on Parade local art auction is usually held in the atrium.