{"id":1004052224,"date":"2012-04-24T14:01:16","date_gmt":"2012-04-24T22:01:16","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=42814"},"modified":"2022-12-05T14:57:55","modified_gmt":"2022-12-05T22:57:55","slug":"clarion-buys-1600-seventh-ave-tower-in-137m-sale-leaseback","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/clarion-buys-1600-seventh-ave-tower-in-137m-sale-leaseback\/","title":{"rendered":"Clarion Buys 1600 Seventh Ave. Tower in $137M Sale-Leaseback"},"content":{"rendered":"<p>By Alex Girda, Associate Editor<\/p>\n<p>In a $137 million sale-leaseback deal, Clarion Partners L.L.C. has taken ownership of 1600 Seventh Ave.,\u00a0a 598,000-square-foot office tower in Downtown Seattle. <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/04\/040412-Qwest-Building-Seattle.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"alignright size-full wp-image-42815\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/04\/040412-Qwest-Building-Seattle.jpg\" alt=\"\" width=\"295\" height=\"300\" \/><\/a>CenturyLink, the telecommunications company formerly known as Qwest Communications,\u00a0\u00a0sold the property it has occupied for 36 years and\u00a0will remain in 260,000\u00a0square feet of the\u00a0 tower.<\/p>\n<p>A team from Newmark Knight Frank Frederick Ross, in collaboration with Eastdil Secured, represented Clarion. NKF Fredrick Ross also handled lease negotiations with Clarion on CenturyLink\u2019s behalf.<\/p>\n<p>Clarion\u2019s newest Seattle asset received a big boost when Nordstrom Inc. took 300,000 square feet at the property. Of note, the property is located within blocks of the Downtown Seattle Nordstrom and Nordstrom Rack stores.<\/p>\n<p>Scheduled to start this fall, Nordstrom\u2019s move-in will bring occupancy at the tower to 88 percent. Urban Renaissance Group L.L.C. represented Clarion in the lease and will manage the property. On the agenda is a makeover of 1600 Seventh Ave.\u2019s lobby and additions to ground-level retail and underground parking.<\/p>\n<p>The acquisition of 1600 Seventh Ave. brings the value of Clarion\u2019s Seattle-area portfolio to about $1 billion. Prior to the most recent deal, Clarion paid $31 million in January for Covington Esplanade, a 187,000-square-foot shopping center anchored by a Home Depot in suburban Covington.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Alex Girda, Associate Editor In a $137 million sale-leaseback deal, Clarion Partners L.L.C. has taken ownership of 1600 Seventh Ave.,\u00a0a 598,000-square-foot office tower in Downtown Seattle. CenturyLink, the telecommunications company formerly known as Qwest Communications,\u00a0\u00a0sold the property it has occupied for 36 years and\u00a0will remain in 260,000\u00a0square feet of the\u00a0 tower. A team from [&#8230;]<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21742,21747,1610],"tags":[],"class_list":["post-1004052224","post","type-post","status-publish","format-standard","hentry","category-brokerage","category-latest","category-office","category-seattle"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Clarion Buys 1600 Seventh Ave. Tower in $137M Sale-Leaseback - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/clarion-buys-1600-seventh-ave-tower-in-137m-sale-leaseback\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Clarion Buys 1600 Seventh Ave. Tower in $137M Sale-Leaseback\" \/>\n<meta property=\"og:description\" content=\"By Alex Girda, Associate Editor In a $137 million sale-leaseback deal, Clarion Partners L.L.C. has taken ownership of 1600 Seventh Ave.,\u00a0a 598,000-square-foot office tower in Downtown Seattle. CenturyLink, the telecommunications company formerly known as Qwest Communications,\u00a0\u00a0sold the property it has occupied for 36 years and\u00a0will remain in 260,000\u00a0square feet of the\u00a0 tower. A team from [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/clarion-buys-1600-seventh-ave-tower-in-137m-sale-leaseback\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-04-24T22:01:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-05T22:57:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/04\/040412-Qwest-Building-Seattle.jpg\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/clarion-buys-1600-seventh-ave-tower-in-137m-sale-leaseback\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/clarion-buys-1600-seventh-ave-tower-in-137m-sale-leaseback\\\/\"},\"author\":{\"name\":\"Anca Gagiuc\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"headline\":\"Clarion Buys 1600 Seventh Ave. Tower in $137M Sale-Leaseback\",\"datePublished\":\"2012-04-24T22:01:16+00:00\",\"dateModified\":\"2022-12-05T22:57:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/clarion-buys-1600-seventh-ave-tower-in-137m-sale-leaseback\\\/\"},\"wordCount\":218,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/clarion-buys-1600-seventh-ave-tower-in-137m-sale-leaseback\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2012\\\/04\\\/040412-Qwest-Building-Seattle.jpg\",\"articleSection\":[\"Brokerage\",\"News\",\"Office\",\"Seattle\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/clarion-buys-1600-seventh-ave-tower-in-137m-sale-leaseback\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/clarion-buys-1600-seventh-ave-tower-in-137m-sale-leaseback\\\/\",\"name\":\"Clarion Buys 1600 Seventh Ave. Tower in $137M Sale-Leaseback - 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