September 6, 2016
Honolulu, HI-based The Shidler Group acquired the fee interest in land beneath phases I & II of the University of Washington School of Medicine Research Campus in Seattle for $133.6 million. The assets are 100%, absolute NNN-leased to an entity of the University.
The opportunity allows Shidler to own a 2.42-acre fully-improved city block that is adjacent to Amazon.com’s South Lake Union HQ campus.
Phases I & II of the development include recently developed and renovated state-of-the-art life science and office assets, totaling roughly 345,000 square feet. Phase I is located at 815 Mercer St. and phase II is located at 850 Republican St.
NGKF’s Capital Markets team of Kevin Shannon, Ken White, Michael Moll, and CBRE’s Tom Pehl represented the seller, Vulcan Real Estate.
For comments, questions or concerns, please contact Dennis Kaiser
Tags: acquisition, cbre, life sciences, NGKF, office, seattle, South Lake Union, The Shidler Group, triple-net leased investment, University of Washington School of Medicine Research Campus, Vulcan Real Estate