Swift Real Estate Pays $72M for Seattle Office Asset
The Class A property last changed hands in late 2008 for $47 million.
Columbia West Building. Image via Google Street View
Columbia West Properties has sold the Columbia West Building, a 137,349-square-foot office asset in Bellevue, Wash., to Swift Real Estate Partners for $72 million, according to Yardi Matrix. Walton Street Capital provided the buyer with $58 million in acquisition financing.
The property previously traded for $47 million in December 2008, when Columbia West acquired it from Pistol Creek Co.
Located at 155 108th Ave. NE, the property was completed in 1986 and is home to a diverse mix of tenants, including Thomson Reuters, several law firms and the building’s namesake. The eight-story asset has a fitness center and a parking structure with 310 spaces. The structure also has 8,000 square feet of ground-level retail space, occupied by a credit union and a bistro.
The Columbia West Building is in the heart of downtown Bellevue. In September, less than half a mile from the site, Amazon inked two leases for a planned, 2 million-square-foot expansion. Developer Vulcan Real Estate broke ground on the projects in February, with the towers expected to deliver in 2023.
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