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 Amazon.com 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.