Nine Office Buildings For Sale Around the Sound

This just in: Chicago based private equity real estate firm Walton Street Capital has listed 9 office buildings in the Puget Sound area, according to the Daily Journal of Commerce.Two of the buildings that hit the market are located in downtown Seattle, one at 1111 3rd Ave, and the other (just kitty corner to it), at 2nd & Spring. Six of the other apartmentsbuildings listed are located in Bellevue, and the other is the Island Corporate Center on Mercer Island. The portfolio for sale totals over 2 million sf of office space, a large slice of inventory for the firm to place on the market at one time. Walton Street Capital bought 11 offices in the surrounding Seattle area after a previous owner defaulted on a $900 million dollar loan. Seeing a win-win opportunity, Walton, along with several bankers bought some of that heavily discounted debt, and set themselves up for success to take control of the buildings once the owner defaulted. If you’re in the market to purchase or sell commercial real estate in Seattle, contact your local real estate agent today.

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