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BELLEVUE, WA- Colliers International’s Puget Sound Real Estate Management Services has been tapped to manage Civica Office Commons, a Downtown class A office development here that changed hands earlier this month for $175.7 million. Civica is Colliers’ first building management contract in Bellevue, the region’s healthiest office market.

Built in 2001, Civica Office Commons consists of two mid-rise office towers totaling 305,835 sf joined by a glass atrium “living room” at 108th Avenue Northeast and Northeast Second Street. It is fully leased at an average annual rent of about $31 per sf to 23 tenants including Microsoft, Wells Fargo, MetLife, Morgan Stanley and Anheuser-Busch.

Brickman Associates, a New York-based real-estate-investment firm, paid Investcorp International $175.7 million ($575 per sf). Investcorp had acquired the building less than two years earlier for $141 million ($462 per sf). Both transactions set records for per-sf pricing in the Seattle area.

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