SEATTLE—Trammell Crow Company has acquired 1124 Columbia Street, a 1.4 acre parcel, which includes a biotech research facility.
In total there are three structures, on the property situated in the Seattle First Hill submarket, the heart of the premier hospital and medical services hub in the Puget Sound region. TCC, acquired the project through a joint venture with Washington Capital Management, from Alexandria Real Estate. Terms of the deal were not disclosed, but the Puget Sound Business Journal reports that the buyers paid $42.6 million, citing public records.
“We have the opportunity to deliver a completely renovated Class A Medical Office Building (“MOB”) in the heart of the premier hospital/medical services hub of the Puget Sound region, an area with significant barriers to entry and land scarcity,” said Mike Nelson, a Principal with Trammell Crow Company's Seattle Business Unit.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
