Hines dumps Seattle-area office property

Hines recently sold One Twelfth @ Twelfth, a three-building office development in Bellevue, Wash.

The value of the transaction was not disclosed.

Iowa-based Principal Real Estate Investors purchased the property.

Completed in 2001, the development includes 480,000 square feet of class-A office space, located at the corner of 112th Ave. NE and 12th St.

The property was 95 percent leased at the time of sale.

Hines is a privately owned real estate firm involved in developing, acquiring, leasing and managing real estate, as well as providing extensive international investment management and advisory services.

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