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Safeco Plaza Goes for a Cool $465M
Safeco Plaza, an 810,493-square-foot multi-tenant office tower in downtown Seattle, recently sold to Boston Properties for $465 million. Located at 1001 Fourth Ave., Safeco Plaza occupies a full city block in the Seattle CBD and is LEED Platinum-certified.
The property, which was 91 percent leased at the time of sale to 19 tenants, is anchored by Liberty Mutual Insurance Company which occupies approximately 500,000 square feet or 66 percent of the building. Other major tenants include Fox Rothschild, Interior Architects and Helsell Fetterman.
CBRE’s Tom Pehl, Todd Tydlaska, Charles Safley, Lou Senini, Paige Morgan, Chris Ludeman, Russell Ingrum, Chais Lowell and Brandon McMenomy represented the seller, Vestas Investment Management advised by Macquarie Asset Management.
“Safeco Plaza is an iconic trophy asset in the heart of Seattle, offering best-in-class amenities, and access to the area’s retail, entertainment and cultural destinations,” said Pehl. “High average occupancy in the last 20 years demonstrates the long-term appeal of the asset and the location.”
- ◦Sale/Acquisition
