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Pembroke Enters Seattle with $340M Acquisition
Boston-based Pembroke Real Estate acquired the Seattle headquarters facility of Tommy Bahama’s for a reported $338.5 million, which would set a 2018 high water mark for the Puget Sound region. The fully-leased 349,152-square-foot Class A+ mixed-use 400 Fairview was sold by Skanska and TH Real Estate, an affiliate of Nuveen, the investment manager of TIAA.
Pembroke’s Cory Saunders says, “400 Fairview is a significant investment for Pembroke. Not only are we expanding into a new market, but this first acquisition in Seattle demonstrates our continued commitment to our U.S. markets, and the growth of our global portfolio.”
The building features an 18,000-square-foot open-gathering ground-floor curated Hall, home to a collection of locally-cultivated artisan bakeries, restaurants and retailers. Skanska developed the building in 2015, and sold a majority interest to TH Real Estate later that year.
Eastdil Secured’s Jason Flynn and Reid Rader represented the sellers.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
