CHICAGO--(BUSINESS WIRE)--Equity Commonwealth (NYSE: EQC) announced it completed the sale of Tower 333, a 435,000 square foot, Class A office property in Bellevue, WA, for a gross sale price of $401.5 million. Proceeds after credits, primarily for contractual lease costs, and transfer taxes were $316.7 million. The company’s cash balance immediately following the sale was $3.4 billion.
About Equity Commonwealth
Equity Commonwealth (NYSE: EQC) is a Chicago based, internally managed and self-advised real estate investment trust (REIT) with commercial office properties in the United States. As of March 16, 2020, EQC’s portfolio comprised 5 properties and 1.7 million square feet.
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