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September 26, 2014

Hines pays $276M for BofA building

By JOURNAL STAFF

SEATTLE — An entity related to international real estate company Hines paid $276.36 million for the 42-story Bank of America Fifth Avenue Plaza at 800 Fifth Ave., property records show

The sellers are James Campbell Co. of Kapolei, Hawaii, and an entity called Block 24 Seattle Ltd.

Based on the gross square footage of the building, the sale price translates to about $221 per foot for the 1.2 million-square-foot tower.

The complex was built in 1981 and has a landscaped public plaza, 17,000 square feet of retail space and underground parking for 612 cars.

Earlier this year, Hines sold 720 Olive Way to Talon Private Capital and Prudential Real Estate Investors for $101 million.




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