Skanska Sells Stake in Seattle Tower for $669M

1 min read

The company has divested a 95 percent share in the 38-story office building.

Image by Gerd Altmann via Pixabay
Image by Gerd Altmann via Pixabay

Skanska has divested its 95 percent interest in 2+U, a 38-story office tower in Seattle, Wash., selling it to South Korean financial group, Hana Alternative Asset Management, alongside Hana Financial Group, for SEK 5.5 billion, or around $669 million. Hana will immediately start operations of the 2+U building.

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Located in Seattle’s central business district at 1201 2nd Ave., 2+U encompasses a total of 703,000 square feet of office space, with floorplates ranging between 14,390 and 30,659 square feet. The building also features 17,000 square feet of retail space across six floors and has an open-air community hub on the ground floor. Thanks to its green features, such as EV charging stations, the tower is proposed for LEED Platinum certification.

Due to its central location, the office is easily accessible via public transportation and is also close to interstates 5 and 90. The building is situated about 6 miles from the King County International Airport.

Skanska started the construction of 2+U in the second quarter of 2017. Both the exterior and interior elements were completed by the third quarter of 2019. The office portion of the building was already 60 percent leased about four months before its completion, when Dropbox signed a 120,886-square-foot lease in April 2019. Other tenants include Qualtrics, and Spaces.

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