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Seattle DJC.com local business news and data - Real Estate - Diverse spaces are key to returning urban cores to normal

Diverse spaces are key to returning urban cores to normal
While many things can be done from the office or from home, neither is ideal for every type of work.
By CHARLIE FOUSHEE
Foushee
For more than a year, we have seen plenty of news stories questioning whether there is still a need for office space. The line separating work from home has blurred and COVID-19 has only catapulted that trend. While commute times certainly have improved, many aspects of work-life balance have not.
But just like Mark Twain, who is often quoted as saying “the reports of my death have been greatly exaggerated,” so, too, is the purported demise of the downtown core. ....

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Developer sells downtown Seattle office tower for $669 million

SEATTLE â A South Korean investment group will buy a 95% stake in a newly opened 38-story office tower downtown for $669 million, developer Skanska announced this week.
Hana Alternative Asset Management and Hana Financial Group will buy control of the 2+U building at Second Avenue and University Street. The Swedish development company Skanska will hold on to a 5% stake as it continues leasing out retail space on the lower floors.
Skanska, which finished the project last year, believes the sale is the biggest real estate transaction for a single property in the United States since the start of the pandemic.
Murphy McCullough, Skanskaâs executive vice president for the Seattle market, said in an interview the sale signals interest in the core of the city, even as the pandemic has quieted much of downtown. ....

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Skanska sells share in 2+U office tower to Hana Alternative Asset Management

Skanska sells share in 2+U office tower to Hana Alternative Asset Management
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