HFF arranges $29.6 million sale of Seattle historic office building for Mack Real Estate Group
PORTLAND, OR – April 22, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has completed the sale of 1411 Fourth, a 123,430-square-foot, historic office building in Seattle’s central business district (CBD), on behalf of an affiliate of Mack Real Estate Group.
Mack Real Estate focuses its Seattle activities on multifamily ownership and development through the Mack Urban unit, and commercial assets like 1411 Fourth fall outside of that core strategy. Omni Development Capital Corporation purchased 1411 Fourth for $29.6 million.
Originally built in 1929, 1411 Fourth features 15 stories of flexible office space in a transit-oriented, CBD location. The property is situated on a .29-acre site fronting 4th Avenue and Union Street with immediate access to Seattle’s 3rd Avenue public transit corridor, Interstate 5 and Highway 99. Additionally, 1411 Fourth has a Walk Score of 98, placing it within close proximity to Pacific Place Mall, Pike Place Market and the Washington State Convention Center in addition to numerous retail stores, hotels and restaurants.
HFF’s investment sales team representing the seller was led by senior managing director Nick Kucha and director Nick Kassab.
About Mack Real Estate Group
Mack Real Estate Group (MREG) is an enterprise devoted to managing the Mack family’s capital, institutional capital, and high net worth capital through direct and partnership investments in real property and related securities. MREG currently specializes in domestic and international real estate investment, development and financing opportunities. The company brings together the expertise to recognize and analyze new real estate opportunities with the necessary speed and flexibility to maximize them, while retaining the ability to hold assets long-term and maintain hands-on management. www.mackregroup.com
About the Omni Group
The Omni Group is a Vancouver based real estate development and investment company with extensive experience designing, developing, building, owning and managing innovative projects across all real estate sectors, including office, retail, industrial, hotel and residential. Onni has offices and investment holdings in Canada (Vancouver, Edmonton, Toronto), the United States (Los Angeles, Seattle, Phoenix, Chicago) and in Mexico.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.