{"id":1004097159,"date":"2014-05-23T19:15:17","date_gmt":"2014-05-24T03:15:17","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=263882"},"modified":"2022-12-02T03:03:36","modified_gmt":"2022-12-02T11:03:36","slug":"hines-oaktree-acquire-triton-towers-in-renton","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hines-oaktree-acquire-triton-towers-in-renton\/","title":{"rendered":"Hines, Oaktree Acquire Triton Towers in Renton"},"content":{"rendered":"

By Alex Girda, Associate Editor<\/em><\/p>\n

One of Renton\u2019s best-known office assets recently traded hands: A partnership of Hines and a real estate fund managed by Oaktree Capital Management purchased Triton Towers. The buyer reportedly paid a fee of around $60 million for the property, making it one of the largest deals to be completed in the area.<\/p>\n

Triton Towers is an office campus located on a 19-acre site on the southern shore of Lake Washington. The campus comprises three seven-story steel and concrete buildings that offer a total of 407,107 square feet of office space. The class A office campus offers great proximity to three major freeways \u2013 I-405, I-5 and Highway 167\u00a0\u2013 and is\u00a0also close to the Sea-Tac Airport.<\/p>\n

The c\"\"<\/a>ampus offers access to a number of parks and the city\u2019s urban trail system, in proximity to public transportation, dining, shopping and cultural venues. Renton has created a name for itself as the world headquarters of Boeing Commercial Airplanes, with a large part of the city\u2019s economy relying on the 278-acre manufacturing facility located in the area.<\/p>\n

Ty Bennion, a managing director with Hines, said the international real estate company \u201ccould not be more excited about this asset,\u201d which he called “the best located and most distinctive property in the entire Puget Sound region.\u201d Meanwhile, Oaktree Managing Director Mark Jacobs underlined the company\u2019s position in reference to the deal as \u201cpleased to add a high-quality asset such as Triton Towers to our real estate holdings and continue to look for opportunities to grow our portfolio in the Pacific Northwest.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

One of Renton’s best known office assets recently traded hands as a partnership between Hines and a real estate fund managed by Oaktree Capital Management purchased Triton Towers. The buyer reportedly paid a fee of around $60 million for the property, making it one of the largest deals to be completed in the area.<\/p>\n","protected":false},"author":41,"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":[1815],"class_list":["post-1004097159","post","type-post","status-publish","format-standard","hentry","category-latest","category-seattle","tag-national"],"acf":[],"yoast_head":"\nHines, Oaktree Acquire Triton Towers in Renton - 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\/hines-oaktree-acquire-triton-towers-in-renton\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hines, Oaktree Acquire Triton Towers in Renton\" \/>\n<meta property=\"og:description\" content=\"One of Renton’s best known office assets recently traded hands as a partnership between Hines and a real estate fund managed by Oaktree Capital Management purchased Triton Towers. 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