Tristar Capital and RFR Holding have added to their growing Seattle-area office portfolio with Dexter Station, the 10-story, Frank Gehry-designed building in South Lake Union.
The building was acquired for $286 million from Stockbridge Capital. It is 100 percent occupied by a single tenant – Facebook.
“This is an absolute stunning building offering an unmatched work environment,” said David Edelstein, president of Tristar. “We believe in the long-term viability of the technology sector and the communities in which they operate and will continue to look for value opportunities in other tech-centric markets across the country.”
Kevin Shannon from Newmark Knight Frank represented RFR and TriStar along with teammates Ken White, Mike Moll, Tim O’Keefe and Jesse Ottele. Eastdil Secured represented the seller. This is the third building in the area acquired by Tristar and RFR in 2017.