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 b