West Coast properties attract Asian investors
Hong Kong–based Gaw Capital Partners is one of a number of investment managers helping Asian investors satisfy their growing appetite for U.S. property. A group led by Gaw Capital has agreed to purchase the 1.52 million-square-foot Columbia Center in Seattle from Beacon Capital Partners. An official statement has not been made, but Real Capital Analytics lists the sales price as $725 million.
Columbia Center, located at 701 Fifth Ave., is the tallest skyscraper in the downtown Seattle skyline. It is also the second-tallest structure on the West Coast, after Los Angeles’ 72-story U.S. Bank Tower. The skyscraper contains 76 stories of class A office space above ground and seven stories of various use below ground. Major tenants include Heller Ehrman White & McAuliffe LLP and Bank of America Corp.
Columbia Center was finished in 1985. The building’s structure is composed of three geometric concave façades with two setbacks, causing the building to appear like t