IVANHOE CAMBRIDGE BUYS OFFICE BUILDING IN DOWNTOWN SEATTLE FOR $390M

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SEATTLE — In a move to increase its presence in the United States, Canada-based Ivanhoe Cambridge Inc. has acquired the Wells Fargo Center, a 47-story, Class A office tower in downtown Seattle, for $390 million.Boston-based Beacon Capital Partners LLC was the seller. The transaction marks the region’s largest office sale so far this year, according to thePuget Sound Business Journal.Built in 1983, the office property at Third Avenue and Madison Street includes 983,600 rentable square feet. Of that, nearly 298,900 square feet are available for lease, according to OfficeSpace.com.The skyscraper, which has views of Elliott Bay and downtown Seattle, brings the Canadian investor’s share of Class A space in city’s financial district to almost 8 percent, according to a statement released by Ivanhoe Cambridge. The company has a 50 percent stake in the 943,600-square-foot U.S. Bank Centre, also in the district.Located at 999 Third Ave., Wells Fargo Center is one of Seattle’s tallest skyscrapers. The tower features energy-management and environmental systems, with LEED Gold certification.Ivanhoe Cambridge is the real estate arm of Canadian institutional fund manager Caisse de d

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