Hudson Pacific Properties Inc. plans to build an approximately 538,000-square-foot office tower adjacent to the 1.5 million-square-foot Washington State Convention Center Addition in Seattle's Denny Triangle neighborhood.

The office real estate investment trust acquired the condominium rights for the development for $86.0 million before credits, prorations and closing costs. The company estimates development costs will total about $300 million to $350 million, including the purchase price.

The 16-story project, which will rise on a 1.17-acre site, will offer approximately 526,000 square feet of office space and 12,000 square feet of retail space.

Construction is expected to start as early as mid-2021 and is slated to open for tenants in late 2022.