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Federal Partners Closes on $35M Office Buy

SEATTLE-The FAA building garnered broad investor interest given the quality of the asset as well as the rapidly improving Seattle economy, says JLL.

By Natalie Dolce | Updated on November 17, 2011

SEATTLE-Federal Partners, a firm focused on acquiring U.S. Federal Government-leased office buildings around the continental US, has purchased the 199,168-square-foot FAA Building here for $35.25 million. The building is 100% leased to the Federal Aviation Administration through July 2015. 

Federal Partners has retained Unico to manage the property. Jones Lang LaSalle’s capital markets team including managing director Michel Seifer and senior vice president Rob Hielscher worked on the transaction. Senior vice president Marcy Owens Test, who is part of Jones Lang LaSalle’s Government Investor Services team, also assisted in the transaction.

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