Hudson Pacific Properties has acquired 5th & Bell, a 192,000-squae-foot office building in Seattle, for $119 million. The building is fully leased to Amazon, and the ground lease has a 50-year term remaining.
Located in the Denny Triangle, the six-story property is LEED certified, and it features larges floorplates, outdoor deck, an end-of-trip facility with showers, lockers and bike storage, retail and ample parking.
With this purchase, Hudson Pacific owns nearly 2 million square feet in the Denny Triangle area of Seattle. The company also owns 1918 Eighth, Hill7 and Met Park North in the submarket, and it is developing Washington 1000 near the Washington State Convention Center. In total, Hudson Pacific owns 3 million square feet of office space in the Seattle market. According to Victor Coleman, Chairman and CEO of Hudson Pacific, the company has been able to grow its Seattle portfolio by focusing on "transactions that are immediately accretive to the company."
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Kelsi Maree Borland
