Hines buys high-rise office building in Seattle

Hines has acquired the Norton Building, a 269,000-square-foot office building located at 801 2nd Ave. in downtown Seattle. The sales price was not disclosed but is estimated to be more than $140 million.

Originally developed in 1959 by Northwest Building Corporation, the Norton Building, known as Seattle’s original modern office building, has 17 stories and is 94 percent leased. With exceptional views of Puget Sound, Mount Rainier and the Stadium District, Hines will be renovating the common areas to create a new lobby experience with expanded gathering places. Hines also will add new creative and interactive spaces throughout the building, all with a focus on environmental, social and corporate governance, to continue to attract tenants looking for modern, experiential office space.

“Hines is excited to acquire the historic Norton Building as its first new owner in over 60 years,” said Andy Albrecht, managing director at Hines. “The building was exc