Opus Center South, with 254,000-sf of Class A space, sold lastweek for $66.3 million to Seattle Union Station II LLC. The11-story building completed in April was the third, and last, UnionStation project of Bellevue-based Opus Northwest. According to TomParsons, Opus NW's president, that building is fully leased(reportedly to Amazon.com).

The person behind Seattle Union Station II LLC appears to besomewhat of a mystery. At least one news report has pointed tolocal billionaire Keith McCaw. However, Parsons, who iscontractually prohibited from discussing the identity of the buyer,said that some reports have erred in their suppositions. He did notsay which reports were wrong. GlobeSt.com was unable to obtainnecessary records to identify the member/s of Seattle Union Stationbefore deadline.

The sales price on Opus Center South translates to approximately$261/sf, or $5 below the $266/sf paid for its sister projects, OpusCenters East and West, by a similarly-named entity, Seattle UnionStation LLC.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.