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CBRE Completes $52M Sale of Terry Thomas Building in Seattle’s SLU
The Terry Thomas building, a single-tenant office property in Seattle’s South Lake Union neighborhood traded hands for $52.15 million. The buyer was a newly raised core fund advised by Zurich Alternative Asset Management (ZAAM), while the seller was a group of private local investors that includes Mike Hess of Hess Callahan Partners and Mark Grey of Stephen Grey & Associates.
ZAAM was represented by Thomas Buffa, and Sean Bannon. Buffa says of the acquisition, “We recently set out to grow our real estate holdings in Seattle and are pleased to add Terry Thomas to our national portfolio; this asset is a strong combination of term, credit and location.”
Located at 225 Terry Ave. N., the four-story LEED Gold-certified building was originally constructed in 2008. The 44,445-square-foot property is fully leased to Northeastern University.
CBRE’s Tom Pehl, Lou Senini, Chais Lowell, Paige Morgan, Charles Safley, Thuy Tran, Brandon McMenomy, Brad Zampa and Mike Walker arranged the sale.
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