Officials with the firm say the company is currently poised to enter the Las Vegas market and is considering three locations along the 215 Beltway and/or in the southwestern Las Vegas valley to develop luxury rental apartment communities.

The real estate investment trust bought a 46% interest for $442 million and now owns 100% of the retail property at the Times Square hotel.

HREC Investment Advisors brokered the sale through RealINSIGHT Marketplace, an online sales platform for commercial real estate.

Retaining talent is the number one market driver for companies to take new construction space, causing rates and demand to rise in the Seattle and Bellevue metro office markets.