{"id":1004052322,"date":"2011-07-15T14:47:57","date_gmt":"2011-07-15T22:47:57","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=10012"},"modified":"2022-12-03T01:09:31","modified_gmt":"2022-12-03T09:09:31","slug":"acacia-takes-first-hill-complex-for-61m-regence-blueshield-puts-hq-on-the-block","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/acacia-takes-first-hill-complex-for-61m-regence-blueshield-puts-hq-on-the-block\/","title":{"rendered":"Acacia Takes First Hill Complex for $61M; Regence BlueShield Puts HQ on the Block"},"content":{"rendered":"<p>By Alex Girda, Associate Editor<\/p>\n<p>\u00a0An affiliate of Acacia Capital Corp. of San Mateo has wrapped\u00a0King County&#8217;s second-largest multi-family trade\u00a0of the year:\u00a0the $61 million acquisition of\u00a0the 351-unit property\u00a0at 1000 Eighth Avenue in First Hill,\u00a0the\u00a0<em>Seattle Times<\/em> reported. The\u00a0property showed a tidy upside for the seller,\u00a0Bascom Northwest Ventures.\u00a0The\u00a0affiliate of Irvine, Calif.-based Bascom Group L.L.C.\u00a0acquired\u00a0the 62-year-old property\u00a0in 2004 for $37 million.<\/p>\n<p>Regence BlueShield in Seattle is putting its Seattle headquarters building on the block, the <em>Puget Sound Business Journal<\/em> reported.\u00a0 Regence is one of Washington&#8217;s major healthcare insurance carriers, and\u00a0its headquarters, located at\u00a0800 Ninth Ave., is only two-thirds occupied. A growing number of Regence employees working remotely or relocating to other cities\u00a0has helped reduce the company&#8217;s space needs at the property,\u00a0the <em>Business Journal\u00a0<\/em>reported.\u00a0Regence offered the building for sale without\u00a0naming an asking price.<\/p>\n<p>Another Seattle office building is\u00a0destined for\u00a0a distinctly different future.\u00a0The former Korry Electronics headquarters\u00a0at 901 Dexter Avenue North\u00a0in the city&#8217;s thriving South Lake Union district is slated for redevelopment into a 284-unit apartment complex.\u00a0Vancouver, Wash.-based\u00a0Holland Partners Group, which is developing the project in\u00a0league\u00a0with Boston-based investment banking firm Capstone Partners L.L.C., recently broke ground. The\u00a0move is another signal of Seattle&#8217;s\u00a0appeal to multi-family developers, particularly for up-and-coming areas\u00a0like South Lake Union. Developer Vulcan Inc. is leading the\u00a0transformation of that once-fading\u00a0industrial district into a vibrant showcase of urban renewal.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Alex Girda, Associate Editor<br \/>\n\u00a0An affiliate of Acacia Capital Corp. of San Mateo has wrapped\u00a0King County&#8217;s second-largest multi-family trade\u00a0of the year:\u00a0the $61 million acquisition of\u00a0the 351-unit property\u00a0at 1000 Eighth Avenue in First Hill,\u00a0the\u00a0Seattle Times reported. The\u00a0property showed a tidy upside [&#8230;]<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1610],"tags":[],"class_list":["post-1004052322","post","type-post","status-publish","format-standard","hentry","category-latest","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>Acacia Takes First Hill Complex for $61M; Regence BlueShield Puts HQ on the Block - 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\/acacia-takes-first-hill-complex-for-61m-regence-blueshield-puts-hq-on-the-block\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Acacia Takes First Hill Complex for $61M; Regence BlueShield Puts HQ on the Block\" \/>\n<meta property=\"og:description\" content=\"By Alex Girda, Associate Editor \u00a0An affiliate of Acacia Capital Corp. of San Mateo has wrapped\u00a0King County&#8217;s second-largest multi-family trade\u00a0of the year:\u00a0the $61 million acquisition of\u00a0the 351-unit property\u00a0at 1000 Eighth Avenue in First Hill,\u00a0the\u00a0Seattle Times reported. 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