Transactions - NOVEMBER 22, 2016

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Hines sells Seattle mixed-use property for $276m

by Andrea Waitrovich

Hines Global REIT, a wholly owned subsidiary of Hines Global REIT Properties, has entered into a contract to sell Komo Plaza to GI Partners’ TechCore for $276 million.

Komo Plaza is a mixed-use two-building complex located in Seattle. It includes office, retail and data-center space with an 833-space garage. Tenants include Fisher Communications and TierPoint.

Hines purchased the property in 2011 for $160 million.

The acquisition follows another big-ticket Seattle office sale. Tristar Capital and RFR Holdings acquired one of Inc.’s Seattle office buildingsfrom developer Vulcan Real Estate for $244 million.

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