Cushman & Wakefield | Commerce Arranges Sale of Three Office Buildings on Nickerson Street in Seattle
January 27, 2014 - SEATTLE, WA
Cushman & Wakefield | Commerce (www.comre.com) brokered the sale of three buildings, 2, 4 and 6 Nickerson which are situated along the water near Fremont, about three miles north of downtown Seattle. The three-building deal totaled $13,650,000, and included 80,723 square feet. The buyer was 246 Nickerson LLC, associated with Stephen C. Grey & Associates and the seller was Columbia West Properties.
Steve Brunette and Gary Danklefsen, Directors of Investment Sales for Cushman & Wakefield | Commerce brokered the transaction.
"These three office buildings are in a business campus environment and well positioned in the area with water views and ample parking, which provides an appealing alternative to downtown," Danklefsen said.
The property was marketed on a national scale and a number of regional and national investors pursued interest and submitted bids. "But at the end of the day, it was a local investment company that could see the real potential of the site and ended up winning the bid," Brunette said.
The buyer will make investment and capital upgrades in the coming months.
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About Cushman & Wakefield | Commerce
Cushman & Wakefield | Commerce, an independently owned and operated member of the Cushman & Wakefield Alliance, has been the leading provider of real estate brokerage services for more than 30 years. Headquartered in Salt Lake City, the firm has offices throughout Utah, Nevada, Idaho and Washington. It offers consulting, brokerage, tenant and landlord representation, property and facilities management, and valuation services to corporations, institutions and investors throughout the Intermountain West and Pacific Northwest. For more information, and for property listings, broker information, market category reports and more visit www.comre.com.
About Cushman & Wakefield
Cushman & Wakefield is the world's largest privately-held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world's major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and assignments. Founded in 1917, it has 253 offices in 60 countries, employing more than 15,000 professionals. It offers a complete range of services for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has more than $3.7 billion in assets under management globally. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge.