SEATTLE—Life science continues to take center stage in Seattle's South Lake Union. The most recent example of investor interest was the $450 million off-market joint venture acquisition of a life science portfolio. The transaction is the largest sale completed in Washington State year-to-date.
The buyer, Clarion Partners, acquired a 70% interest in the properties. The seller was an affiliate of Alexandria Real Estate Equities Inc., developer, owner and operator of life science real estate.
Newmark's co-head of US Capital Markets Kevin Shannon and executive managing directors Ken White and Rob Hannan cooperated with vice chairman Nick Kucha, executive managing directors Tim O'Keefe and Jesse Ottele, and senior managing director Cavan O'Keefe to represent the seller.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
