News
SMITH TOWER'S BRIGHT FUTURE
March 27, 2012
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| Sure, it's more than 80% vacant now, but once its windows are cleaned and some new paint is applied, we predict the Smith Tower will be one of the city's most eligible buildings for businesses looking to settle downtown. The Smith Tower (and its much shorter sidekick, the Florence Building) were sold at auction for $36.7M late last week to affiliates of CBRE, which acquired Walton Street Capital's mortgage on the building in 2011. Though the plan was once to turn the building into condos —and we were told that the Smith Tower is well suited to be condos—it also fits the bill for funky/cool office space as well. There's no shortage of demand for that in trendy Pioneer Square, either. |
