{"id":1004291852,"date":"2019-01-16T03:46:22","date_gmt":"2019-01-16T11:46:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004291852"},"modified":"2019-01-16T06:38:51","modified_gmt":"2019-01-16T14:38:51","slug":"cim-group-acquires-seattle-office-asset-for-151m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cim-group-acquires-seattle-office-asset-for-151m\/","title":{"rendered":"CIM Group Acquires Seattle Office Asset for $151M"},"content":{"rendered":"<div id=\"attachment_1004291855\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/10290-e1547579326942.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004291855\" data-attachment-id=\"1004291855\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cim-group-acquires-seattle-office-asset-for-151m\/attachment\/10290\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/10290-e1547579326942.jpg\" data-orig-size=\"640,480\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"10290\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Dexter Horton Building&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/10290-e1547579326942.jpg?w=640\" class=\"wp-image-1004291855 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/10290-e1547579326942.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/10290-e1547579326942.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/10290-e1547579326942.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004291855\" class=\"wp-caption-text\">Dexter Horton Building<\/p><\/div>\n<p>CIM Group has acquired a historic Seattle office building for $151 million from Pacific Eagle Holdings. The Dexter Horton Building, a 335,000-square-foot Art Deco property built in 1924 for the first bank in Seattle, underwent extensive renovations in 2002 and in 2015.<\/p>\n<p>The 15-story office asset\u2019s most recent renovation upgraded the building amenities, with additions including a penthouse lounge and rooftop deck, bike storage, shower and locker rooms and an indoor dog lounge. Tenants of the building represent a range of industries including technology, government, non-profit, media, healthcare and professional services.<\/p>\n<p>Situated at 710 Second Ave., at the southern edge of the Seattle CBD and the northern border of the historic Pioneer Square, the property offers easy access to an array of cultural attractions, historic landmarks and a variety of shopping and dining. The building is also located in close proximity to Interstate 5 and Highway 99.<\/p>\n<p>Pacific Eagle Holdings previously acquired the property in 2015 for $124.4 million, according to Yardi Matrix data. CIM Group\u2019s acquisition of the building adds to its Seattle portfolio that currently includes One Convention Place, a 312,000-square-foot office building and the Pine Street Garage, an 844-space parking garage.<\/p>\n<p>Last month, CIM Group partnered with Golub &amp; Co. to <a href=\"https:\/\/www.commercialsearch.com\/news\/cim-group-golub-co-acquire-chicago-tower-for-138m\/\">acquire a 36-story office tower<\/a> in downtown Chicago for $138 million.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pacific Eagle Holdings sold the historic Dexter Horton building in the downtown area. The 335,000-square-foot property underwent extensive renovations in 2002 and 2015.<\/p>\n","protected":false},"author":745,"featured_media":1004291855,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21742,21747,1610,15],"tags":[33194,43700,43697,43703],"class_list":["post-1004291852","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-office","category-seattle","category-west","tag-cim-group","tag-dexter-horton-building","tag-golub-co","tag-pacific-eagle-holdings"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CIM Group Acquires Seattle Office Asset for $151M - 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\/cim-group-acquires-seattle-office-asset-for-151m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CIM Group Acquires Seattle Office Asset for $151M\" \/>\n<meta property=\"og:description\" content=\"Pacific Eagle Holdings sold the historic Dexter Horton building in the downtown area. The 335,000-square-foot property underwent extensive renovations in 2002 and 2015.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cim-group-acquires-seattle-office-asset-for-151m\/\" \/>\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=\"2019-01-16T11:46:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-01-16T14:38:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/10290-e1547579326942.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Holly Dutton\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cim-group-acquires-seattle-office-asset-for-151m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cim-group-acquires-seattle-office-asset-for-151m\/\",\"name\":\"CIM Group Acquires Seattle Office Asset for $151M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cim-group-acquires-seattle-office-asset-for-151m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cim-group-acquires-seattle-office-asset-for-151m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/10290-e1547579326942.jpg\",\"datePublished\":\"2019-01-16T11:46:22+00:00\",\"dateModified\":\"2019-01-16T14:38:51+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9259ffaba4775229ae3556b9555e566d\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cim-group-acquires-seattle-office-asset-for-151m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/cim-group-acquires-seattle-office-asset-for-151m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cim-group-acquires-seattle-office-asset-for-151m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/10290-e1547579326942.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/10290-e1547579326942.jpg\",\"width\":640,\"height\":480,\"caption\":\"Dexter Horton Building\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cim-group-acquires-seattle-office-asset-for-151m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"CIM Group Acquires Seattle Office Asset for $151M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9259ffaba4775229ae3556b9555e566d\",\"name\":\"Holly Dutton\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Holly-D-Dutton-e1622041566670.png?w=75\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Holly-D-Dutton-e1622041566670.png?w=75\",\"caption\":\"Holly Dutton\"},\"description\":\"Holly Dutton is a Senior Editor with Commercial Property Executive and Multi-Housing News. 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