LA County Retirement Assoc. Pays $96.9M for 2-Bldg Portfolio
The Los Angeles County Employees Retirement Association has acquired two office buildings in the Union Station office complex located at 605 and 625 5th Ave. S in Seattle, WA from Seattle Union Station LLC for $96.9 million, or about $300 per square foot.
The larger of the two buildings totals 254,995 square feet on nine stories and is currently 95.7-percent leased. The smaller, fully-leased, four-story building totals 68,525 square feet. Both were built in 2000 within the five-building office campus located in the Pioneer Square / Waterfront submarket of King County. The former home of Amazon.com, Union Station is now occupied largely by Intel, Getty Images, Vulcan, Inc., Automatic Data Processing, Inc., and Sound Transit.
Craig McCaw and Bruce McCaw sold the pair of buildings. No third-party brokers were reportedly involved in the direct sale.
Please see CoStar COMPS #2708658 for additional information on this transaction.