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$480M Office Sale Ranks Largest in West

SEATTLE-J.P. Morgan Asset Management buys two buildings totaling more than 900,000 square feet from Schnitzer West in the largest office sale on the West Coast this year.

By Bob Howard | Updated on August 11, 2011

818 Stewart St.

SEATTLE-J.P. Morgan Asset Management has acquired two office buildings totaling 900,459 square feet at 818 Stewart St. and 1918 Eighth Ave. from Schnitzer West in the largest office sale on the West Coast this year. Kevin Shannon, a CB Richard Ellis vice chairman who led a CBRE team that represented Schnitzer West in the sale, tells GlobeSt.com that the deal, at $533 per square foot for the two buildings combined, reflects both the quality of the assets and the strength of the Seattle office market, which he describes as one of a number of tech-led office markets on the West Coast that are improving quickly.

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