(EDITOR’S NOTE: Seattle-based Touchstone developed Troy Block and announced the opening of the development with its financial partner on the project, USAA Real Estate, in October 2017. HFF will market Troy Block unpriced, but given the size of the project (over 800,000 square feet) it will be a large transaction, likely over $650 million, according to one industry source. Germany-based Union Investment Real Estate GmbH paid approximately $330 million, or $884 per square foot, to acquire the 373,000 square foot Amazon-leased Midtown21 office building in downtown Seattle in June 2017. In December 2017, Tokyo-based Takenaka Corporation acquired the 11-story 290,573 square foot Amazon-leased Tilt49 building in downtown Seattle for $268.5 million, or approximately $924 per square foot.)
SEATTLE, WA – February 20, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has been selected to market the sale of Troy Block, two newly constructed Class A+ office towers fully leased to a Fortune 50 investment grade technology tenant.
Troy Block is located at 300 Boren Avenue North in the South Lake Union submarket of Seattle, which is home to tenants in some of the fastest growing industries, including technology, media, software, global health and biomedical research.
Completed in 2016/2017, the two LEED Gold certified towers offer the highest quality improvements and latest building technology with multiple tenant amenities.
Troy Block represents a unique global offering given its size, quality, location and credit tenancy and may well be one of the most significant of such offerings in the global commercial real estate industry in 2018. Marketing materials are expected to be ready for distribution before the end of February.
About HFF
HFF and its affiliates operate out of 25 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
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