{"id":159535,"date":"2016-11-17T18:30:43","date_gmt":"2016-11-17T23:30:43","guid":{"rendered":"https:\/\/www.livabl.com\/articles\/?p=159535"},"modified":"2016-11-17T18:48:48","modified_gmt":"2016-11-17T23:48:48","slug":"foreign-investment-seattle-commercial-real-estate-tripled","status":"publish","type":"post","link":"https:\/\/www.livabl.com\/articles\/archives\/foreign-investment-seattle-commercial-real-estate-tripled","title":{"rendered":"Foreign investment in Seattle commercial real estate has tripled from earlier this decade"},"content":{"rendered":"

<\/h4>

\"seattle<\/a><\/p>\n

Photo:\u00a0<\/span>Mobilus in Mobili\/Flickr <\/span><\/a><\/em><\/p>\n

International business is booming in Seattle. Recent statistics from the Economic Development Council of Seattle & King County show that foreign investors have spent over\u00a0$4 billion on King County commercial real estate since 2015,\u00a0more than triple the amount\u00a0spent earlier this decade.<\/p>\n

What’s driving foreign investment in the region?\u00a0According to The Seattle Times<\/a>, usually foreign investors interested in real estate are laser-focused on housing. But\u00a0big Seattle companies like Amazon, Microsoft, Boeing and Starbucks have drawn attention to commercial real estate in the area.<\/p>\n

Prices in the region are also attractive to international developers, brokers and commercial real estate buyers. Overall, commercial real estate in the Seattle area is much\u00a0cheaper than it is in places like New York, San Francisco, Los Angeles and Vancouver, BC, which have traditionally been more popular with foreign companies.<\/p>\n

The largest recent commercial real estate purchase in Seattle was made last year, when Hong Kong-based Gow Capital Partners bought Columbia Center, the city’s\u00a0tallest building, for $711 million. Smaller recent sales\u00a0include Mirae Asset Global Investment’s $247-million purchase of an Amazon office building in Seattle’s South Lake Union neighborhood, as well as the sale of Safeco Plaza in downtown Seattle. It was picked up<\/span>\u00a0for $387 million by\u00a0a partnership between Germany\u2019s GLL Real Estate and South Korea\u2019s Vestas Investment Management.<\/span><\/p>\n

There’s been some\u00a0speculation about\u00a0how Donald Trump’s presidency could\u00a0alter the real or perceived value of US real estate for foreign investors, but local experts consulted by The Seattle Times say it\u2019s too soon to\u00a0know what will happen.\u00a0<\/span><\/p>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

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