We already know that Seattle is a hotspot in the country’s real estate market, but just how desirable is our fair city? The nonprofit research Urban Land Institute and global accounting firm PwC ranked Seattle the fourth best investment market in the country based on a survey of more than 1,000 experts from the real estate, finance and related industries.
Seattle and its surrounding areas are expected to maintain their appeal among investors in 2015. “Emerging Trends” again ranked Seattle as the country’s fourth best investment market behind Houston, Austin, Texas and San Francisco.
So what were the top 10 real estate sales in Seattle in 2014? Here’s a rundown!
10. Vulcan Real Estate sold a Seattle office and lab building at 401 Terry Ave. N. to Kilroy Realty for $106.1 million.
9. Clarion Partners paid just under $113.2 million for the Meridian retail complex in downtown Seattle on Pine Street between Sixth and Seventh avenues.
8. The Martin, a new apartment tower in downtown Seattle at Fifth Avenue and Lenora Street, sold for $114 million.
7. Lionstone of Houston and Talon Private Capital of Seattle bought Bellefield Office Park on the edge of downtown Bellevue for $120.3 million.
6. Motif Seattle at 1415 Fifth Ave., is a downtown hotel that operated as the Red Lion until around the time of its $126.9 million sale last summer.
5. Rock Creek Landing, a large apartment complex in Kent at 1024 Central Ave. N. sold as part of a $127 million package deal along with Montair at Somerset Hill in Tumwater and Stone Pointe in University Place.
4. Hines paid $165 million for this land only sale, a full downtown Seattle block on which an office high-rise stands. Previously the Bank of America Fifth Avenue Plaza, the tower is now known only by its address, 800 Fifth Ave.
3. The $186.4 million sale of Plaza Center and an adjoining property, US Bank Plaza, at 10800 N.E. Eighth St. in Bellevue.
2. Chicago-based Walton Street Capital’s $254.1 million disposition of the 1111 Third office tower in downtown Seattle to Montreal-based Ivanhoe Cambridge and Callahan Capital Partners of Chicago.
1. The $271 million sale of Pacific Place shopping mall at 600 Pine St. in downtown Seattle was the highest-priced sale of 2014.
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