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Thursday, November 17, 2011

After 3+ years, Fisher Communications sells Fisher Plaza in Seattle

fisher communications Price, according to the Seattle Times: $160 million. Fisher CEO Colleen Brown said on her latest quarterly call that progress was being made on a process that began in 2008, but then stalled along with the economy. One special problem, sales-wise, is that Fisher's KOMO-TV is an integral part of Fisher Plaza, built near the famous Space Needle. The buyer is real estate investor Hines, based in Houston. The $160 million price is above Fisher's most recent appraisal of $142 million. KOMO-TV still needs a studio, and Fisher will lease back the space it needs, and be the facility's largest tenant. CEO Brown says "Fisher Plaza has been an asset that is not a central component of our business model." If you've seen "Grey's Anatomy" on TV, you've seen the outside of Fisher Plaza: it's used for exterior shots of the hospital that's the center of the CBS series.

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