JULY 12, 2013

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IN-DEPTH LOOK: Shorenstein Properties acquires Redmond Town Center from Macerich for $185 million

by Ross Dohrmann

Shorenstein Properties has purchased the office portion of Redmond Town Center in Redmond, Wash., from Macerich. The six-building complex sold for $185 million, according to a July 2 article in the Puget Sound Business Journal.


Shorenstein Properties recently purchased the six-building office portion of Redmond Town Center in Redmond, Wash. The seller, retail REIT Macerich, sold the property for $185 million, which equates to about $318 per square foot for the 582,000 square feet of office space, according to Real Capital Analytics (RCA). Financing was provided by Bank of America. Brokers at Eastdil Secured

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