The seller is apparently a unit of San Francisco-based developer Capital & Counties U.S.A., which announced the sale recently, referencing itself as the seller. According to title records, Capital & Counties U.S.A. and Real Property West Inc. in March sold Parkway Square to NSHE Tomahawk LLC of Arizona for $12.5 million. NSHE requested its final purchase documents be sent to C&C's San Francisco offices. No brokers were involved in the transaction.

A spokesman for C&C could not immediately be reached for comment on the March sale or the difference in price, but such information will be added to this story shortly after it is made available. In a prepared statement, C&C VP Fergal McHugh said the company's "current business strategy involves concentrating on the purchase and development of California based properties, which is the strength of our portfolio. This was our sole asset in Washington. This transaction turns the center over to a local owner, and allows us to continue to build a stronger presence in our targeted market."

C&C is part of the U.K. based Liberty International PLC. The U.S. subsidiary has approximately 2 million square feet of office and retail space under ownership, including Ghirardelli Square, a landmark property in San Francisco, Serramonte Shopping Center in Daly City, The Senator Office Building in Sacramento, the Pacific Financial Center in Los Angeles and The Willows Shopping Center in Concord, among others.