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Correction: 1800 Ninth Sells in Seattle for $150M

Prudential, Talon Sell 305,000 SF
January 7, 2014
Heitman America Real Estate Trust acquired the office building at 1800 9th Ave. in Seattle, WA from The Prudential Realty Group and Talon Private Capital for $150.38 million, or about $492 per square foot.

The 15-story, 305,575-square-foot, 4-Star office was built in 1990 on 0.7 acres in the Seattle CBD submarket of King County. The property boasts 24/7 on-site security, concierge, a full fitness center, 80-person conference center, and close proximity to the Convention Center Metro Station and I-5 as well as numerous shopping centers, restaurants and theaters.

The seller acquired the property back in December 2011 from Regence BlueShield for $76.54 million, according to CoStar data. See CoStar COMPS #2227512.

The asset was 97 percent leased at the time of sale to a mix of tenants, with occupying more than half of the building.

Jason Flynn with Eastdil Secured LLC represented the sellers. Heitman handled the acquisition in-house.

Please see CoStar COMPS #2916796 for additional information on this transaction.

Editor's Note: The news story was updated to show the seller was represented by Eastdil, and not JLL as originally reported. Additionally, the office building totals 305,000 square feet, not 315,000.
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