Equity Commonwealth agrees to sell 1225 Seventeenth Street Plaza for $132.5M

Equity Commonwealth (EQC) announced that it is under contract to sell its last remaining property, 1225 Seventeenth Street, a 709,402 square foot office property in Denver, Colorado, for a gross sale price of $132.5M. The net purchase price is expected to be approximately $124.4M after credits primarily for contractual lease costs. The buyer has completed due diligence, and the earnest money deposit is non-refundable. The sale is scheduled to close in late February 2025. The transaction is subject to customary closing conditions, and there is no assurance that the transaction will close. The company reaffirms the estimated aggregate shareholder liquidating distribution range of $20.00 to $21.00 per common share previously announced on November 15, 2024, inclusive of the initial liquidating distribution of $19.00 per common share paid by the company on December 6, 2024.